Blogging service Tumblr had just USD 16.6 million in cash when Yahoo Inc. bought it last May for USD 1.1 billion, a Yahoo regulatory filing showed Thursday.
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The deal for Tumblr was the largest since Yahoo Chief Executive Marissa Mayer took the role in July with a focus on reversing a long decline in Yahoo's business and web traffic. The deal also made Tumblr founder and CEO David Karp, 27, a multimillionaire.
Technology blog AllThingsD reported the details on the filing earlier Thursday.
Yahoo also said in its 10Q filing with the Securities and Exchange Commission that it would give Karp both USD 41 million in Yahoo common stock and USD 40 million in cash over a four-year period as long as he remains a Yahoo employee.
Yahoo did not immediately respond to a request for comment after normal business hours Thursday.
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