Only three short, sweet years ago, David Karp was just another dreamy eyed dropout sitting atop a billion dollar idea. He wore a lot of plaid. He told the L.A. Times that the concept of advertising "really turns our stomachs." Today, he's on the beach, saying the best part of Vogue is the ads. David.
Earlier today an anonymous founder created a Tumblr called My Startup Has 30 Days to Live, chronicling the advice from investors that left him unable to make payroll. How does a once profitable and bootstrapped company morph into the startup walking dead? By following the contemporary formula for startup riches: boosterish article in the tech press, join a top accelerator, give good deck on Demo Day, cash the VCs checks, crush it . . . you're the next Dropbox.
David Karp, the proud new owner of generational wealth (despite 2012 revenues of less than $5 million), is in France this week making some new best amis! At the Cannes Lion International Festival of Creativity—a posh back-patting bonanza designed to make advertisers feel special—Karp took the main stage, only to throw his employees under the bus:
Further proof from Jakob Lodwick that you don't necessarily have to have a good idea to make money in tech. Two of the fameballer's investments have been acquired this year: Tumblr and now MakerBot, where, until recently, he described himself on his blog as a "founding investor." Depending on how many shares he held, it should be enough to keep Elepath's ball pool filled.
After high school dropout David Karp turned Tumblr into a $250 million payout from Yahoo, lots of parents around the world are probably looking to duplicate the recipe. Here's part of it: let your kid have and do whatever they want.
Starting today, you'll see things like promotional GIFs for Denny's in your web Tumblr feed (just like you had before via mobile), according to the company's staff blog. "These posts will simply blend in with the posts from the blogs you follow," says Tumblr, except that advert posts will be stamped with a dollar sign with lines shooting out of it.