We already knew Tumblr founder David Karp was a wealthy man thanks to Yahoo’s acquisition. But Yahoo’s new quarterly report reveals the massive amount of cash and stock compensation Sunnyvale is offering the New York microblog pioneer to stick around for a few years. The official word? Karp stands to receive $40 million in cash and an additional $41 million in stock over the next few years. This number, it is important to note, is independent of his salary at Yahoo and the reported $250 million he received for selling his stake in Tumblr.
But as Quartz’s Zachary Seward notes, there’s something more important in the SEC filing: Yahoo explained the $990 million valuation they made for Tumblr. The bulk of this was goodwill, or what Yahoo told the government was “bring(ing) a significant community of users to the Yahoo network by deploying Yahoo’s personalization technology and search infrastructure to deliver relevant content to the Tumblr user base.”
Get ready for that integrated Yahoo search infrastructure, “Fuck Yeah” Tumblr editors.
[Image: Flickr user Enrique Dans]