Sure, Mark Zuckerberg was brave to drop out of Harvard. But at least he finished high school.
Tumblr‘s David Karp didn’t, and that seems to have been a great call for the 21-year-old, who is now a paper millionaire. We hear that Tumblr’s $750,000 first round which closed this month, values the company at $3 million, and that David sold about 25% of the company.
Tumblr is a “micro-blog” — a stripped down version of Google’s Blogger — with a loyal following of about 100,00 users and zero revenue. Some will undoubtedly cast the valuation as a sign of the impending bubble bursting, but it’s a reasonable bet for David’s investors–especially with 100,000 users. It’s very easy to see how Tumblr would fit in a big Web player’s portfolio down the line. In the meantime, since David is of legal drinking age, we’d like him to buy us a beer.
After The Jump: SAI contributor and Wallstrip founder Howard Lindzon interviews David.
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