Yahoo deal 'nets Tumblr head £164m'

US tech giant Yahoo has snapped up Tumblr in a major US deal that will reportedly net the blogging site's 26-year-old founder a 250 million US dollar (£164 million) fortune six years after he started it.

The 1.1 billion US dollars (£720 million) deal makes New Yorker David Karp - who attended high school for only a year - the latest internet whiz-kid to scoop an astronomical windfall from a web start-up.
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