The good news for David Karp is that he created one of the most popular things to ever sit on the internet. The bad news is that Tumblr's investors say the company is worth $800 million, and Karp says he doesn't care about making money. That could change today.

Business Insider says an impending board meeting will focus on hiring a COO—that is, someone whose job it is to whip Tumblr from mega-popular GIF train to viable business. BI's Nicholas Carlson claims "meetings between Karp and his directors have grown tense lately, as the West Coast investors who valued Tumblr at close to a billion dollars have flown in, and demanded answers." You would too if you poured money into a company that, according to our source, doesn't employ "a single strategic thinking grownup in a position of power."

When the impatient VC millionaires meet with the blithe young paper millionaire, setting him up with a "thinking grownup" is likely to be high on today's docket. [BI]

Photo: Nadine Rupp/Getty

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