david karp. david is karp is the founder and c.e.o. of tumblr. in 2007 he started the company at age 20. it is now the preeminent blogging platform with over 300 million active users. "forbes" magazine noted facebook is the internet's phone book, twitter is its wire service and tumblr 26-year-old karp has built the canvas. yahoo! announced it would purchase tumblr for $1.1 billion. welcome. >> thank you so much for having me. excited to be here. >> rose: you had enough confidence to say i know what i want to do. i've had experience and this is what i want to do. i'll do home schooling and whatever but i want to do it now. you said to me your parents were enablers. >> yeah. i have a hard time taking too much credit for it. i had a lot of just dumb luck along the way and some incredibly enabling parents. parents who just supported me unconditionbly but also really -- >> rose: "if you want to do this david, we're behind you"? >> yes. and also kind of set me up. either pushed me or kind of set me up to find my way. so, like, the best example of that

. >> reporter: david karp is 26, a high school dropout, and now he's mega-rich. that's because karp is founder of tumblr, the blogging site yahoo just bought for $1.1 billion in cash. >> this isn't a get rich quick scenario. karp has been working on tumblr for years. >> reporter: since she arrived 10 months ago, yahoo's ceo marissa mayer has been triegd transform the company into a must use service for everyone. to succeed, she's going to have to figure out what younger users are doing with their smartphones and tablets and what they'll want to do next. tumblr with its massive audience of more than 300 million visitors every year will certainly help. 11 months ago it topped the list it at 47. since then it's climbed to 41. but is yahoo paying too much? >> youtube looked expensive in 2005. this year they're going to do $1 billion in revenues. a lot of people screamed that deal didn't work out for a long time. i think tumblr is a special property and i think it will take years for it to play out, but as an investor, i'd rather have a stake in that property right he

david karp will stay on as the chief executive. yahoo said as part of its agreement not to screw up tumblr. in tea makings equipment to kim jong-un looking at things, it is a site full of weird and wonderful angst were a young audience spends plenty of time creating or viewing new material. was also once a fashionable name on the web but it struggled to keep up with changing trends. now it hopes that the buying tumblr will change that. pagesa mayer use her own to unveil the $1.1 billion vale -- deal. she assured users there was nothing to panic about. we promise not to screw it up, she said. david karp promised the site would not turn purple, yahoo's cover or leave its new york base. distinctlyff with a on managerial language. marissa mayer recruited from google to shake things up and yahoo, our hope is that the amblr deal will send out signal. corexit is new and trendy. it is sophisticated and interesting. i think it's a little piece of all of those things. it puts yahoo back on the map. this kind of technology takeover has a mixe

david karp, yahoo!'st employee, at the ripe young age of 26 years old, a college and high school dropout. high school dropout. and the man behind the website yahoo! just bought for $1.1 billion in cash. tumblr. tumblr, better known as cash cow. the yahoo! ceo marissa mayer is betting a lot on the social blogging site, hoping to tap its younger and more active user base for advertising dollars and in return, she promises concerned tumblr users to, quote, not screw it up. that's a big tall order, too. we're going to get to the tumblr founder david karp and his new fortune in a moment. first, let's go over exactly what tumblr is. if you don't know yet, think of it as a big old blog and a twitter feed. you can post pretty much anything you want on it. pictures, video, and links, but what makes tumblr unique is the ability to reblog something. say you have a favorite sports team, mine, for example, the winnipeg jets, for very good reason, they are excellent. here's a tumblr devoted to all things winnipeg jets

a live interview with yahoo ceo marisa mayer and tumblr ceo david karp.he next level? ♪ [ engine revs ] ♪ [ male announcer ] just when you thought you had experienced performance, a new ride comes along and changes everything. ♪ the 2013 lexus gs, with a dynamically tuned suspension and adjustable drive modes. because the ultimate expression of power is control. this is the pursuit of perfection. because the ultimate expression your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. >> welcome back to "squawk on the street." i'm sharon epier son and it is all about the fed. that is what with we look at with gold and silver prices. traders are waiting to hear what ben bernanke has to say and waiting to see the fed speak that we're expecting from officials today. we're looking at

marissa mayer will be here with tumblr ceo david karp. very dynamic duo. n't wait to talk to them live. >> social media so effective after a tragedy like we saw in oklahoma. we're going to get right to abc's david muir with the latest on the search and rescue for children right now. i know they're waiting for daybreak for that to continue. david? >> reporter: going to be a difficult morning here, robin, i can tell you. the plaza towers elementary school just over our shoulder. and you can see off in the distance those giant spotlights. they are glowing on that school as they have been for the last, you know, 12 to 20 hours here, as they continue to search for what they believe will be more children that they find inside that school. in fact, i was talking to someone who said the school looks as though it were lifted off its foundation then simply collapsed again. layers upon layers as they search for more bodies inside the school. the death toll, 20 are children. so, very sad headline will be emerging as this day wears on here. but there have been glimmers

david karp -- he's the founder of tumblr.ost successful high school dropout after selling his website to yahoo! for $1.1 billion. [ audience oohs ] or as high school guidance counselors put it, "today is going to suck!" [ cheers and applause ] mike, you've got to concentrate on geometry. really got to -- stick to that geometry class. get this. in a new interview, brad pitt revealed that he doesn't have a lot of friends. [ audience aws ] but he says he's never been happier. or as one guy playing his xbox put it, "sweet, i'm just like brad pitt!" [ laughter ] here's some big sports news. it was just announced that new york city is getting a new professional soccer team that will be partially owned by the yankees. you could tell it's owned by the yankees, because a-rod won't be playing for either of the teams. [ laughter ] and finally, a museum here in new york city is opening a new exhibit with puppets from "sesame street." i wanted to go, but nobody would tell me how to get there. [ laughter ] we have a great show. give it up

they're pretty solid but how are they going to get the new market. >> speaking of age, david karpe, the high school dropout who created tumblr, in his official statement he signed off with the "f" word, is it important that yahoo! said he will stay on and continue to run tumblr and have a lot of autonomy. >> they would have had a mass exodus of people leaving tumblr had that statement not been there. they just opened up a new york office for 500 employees. that's not going to be where tumblr will be. they will stay in their office. this is like google buying youtube and youtube stays separate. this could be tremendously successful. >> tumblr has a lot of porn. it's part of its popularity and there was some question about whether yahoo! would change that. yahoo! has signaled they're not going to mess with the "x" rated content. >> porn has driven the tech community. it's really driven everything. i think we're all on the same page there. it will be interesting to see how things transpire strictly speaking on the porn side. >> both of you seem to think this is a gamble for yahoo!, obvious

robert frank has more on karp's journey to his success and dad's per expect. >> i've i just spoke to david's, quote, thrilled. he said, quote, he's extremely passionate about what he does. es r he's going to keep on doing what he's been doing. the deal will net david somewhere around $200 million and he's only 26. but his dad says it's not about the money, quote, he's never cared about money or talked about it. his dad said, quote, it's about doing what he loves to do and about creativity. too t. deal still marks a very big moment for a kid who dropped out of high school. david grew up in new york's upper west side. we went to the calhoun school where his mom was a science teacher. for high school he went to bronx science but dropped out after a year to home-school. david's dad said he'sn't happy at school and had tutors give him lessons but computers were always david's first love. michael got him an apple computer long before the internet and david was taking computer courses in high school and japanese language courses. david's idol growing up was not a sports star or a rock star, but ste

s ceo marissa mayer and tumblr's ceo david karp.'s coming up at 10:00 eastern. [ female announcer ] what if the next big thing, isn't a thing at all? it's lots of things. all waking up. ♪ becoming part of the global phenomenon we call the internet of everything. ♪ trees will talk to networks will talk to scientists about climate change. cars will talk to road sensors will talk to stoplights about traffic efficiency. the ambulance will talk to patient records will talk to doctors about saving lives. it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. the next big thing? we're going to wake the world up. ♪ and watch, with eyes wide, as it gets to work. ♪ cisco. tomorrow starts here. >>> welcome back, everyone. for viewers just waking up this morning, we want to bring you up po speed on the situation in oklahoma. a tornado killing at least 51 people, including 20 children, officials are warning that the death toll is certain to rise significantly and making the search efforts even more difficult. resc

tumblr's founder and ceo david karp who is 26 years old and a high school dropout walked away with about $200 million. he said the deal made long-term sense and it would keep tumblr independent. >> the structure -- the organization, the company that we're building for me has been about the mission and this is an incredible opportunity to serve that mission for a long time. >> ben bernanke and the federal reserve's open market committee had a lot to say this week and to put it mildly it caught the market's attention. what was the message and what was the meaning? joining me right now bob mctier, former chairman of the dallas federal reserve. thanks so much for joining us. everybody was watching and listening to ben bernanke's testimony before congress this week and separately, the federal reserve minutes that were released this week. the minutes were, you know, the notes from the last meeting seemed to say that the tapering of the fed's bond buying program could begin as early as june, but then bernanke said it all depends on the data. what do you think? >> i doubt that it will start in j

marissa mayer's ceo and david karp will be on "squawk on the street" at 10:00 eastern.curity clearance from the u.s. government makes it easier for fwerl agencies so use its cloud services. amazon has moved aggressively into the cloud business which has been successful with small businesses, now targeting larger corporation is and government agencies. which are more demanding in terms of security and regulatory issues. and some stock down 0.4% in frankfurt. >>> we'll take a quick break. still to come, the.diamond in the rough? jamie dimon is facing a rev republican come today. >> we'll have a report from the meeting in tampa, florida. [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ] just by talking to a helmet. it grabbed the patient's record before we even picked him up. it found out the doctor we needed was at st. anne's. wiggle your

it was started just six years ago by david karp, who dropped out of high school to work in the tech field. he'll remain as head of tumblr. this is the biggest move yet by yahoo c.e.o. marissa mayer, who joined the company just ten months ago from google. today, she wrote on a tumblr post: "we promise not to screw it up." rebecca leeb is research analyst of digital advertising and media for the altimeter group and joins us now. welcome to you. why does yahoo want to buy tumblr? what's the appeal? >> there are several appealing things about tumblr. there's certainly the size of the audience, as you just mentioned. but also perhaps more than that, the demographics of tumblr's audience. yahoo has been losing users, losing eyeballs for years now. tumblr represents the millen yells, those 20-somethings who didn't abandon yahoo because they probably never aligned with the platform in the first place. this is a group that is incredibly important to the advertisers yahoo is is trying to attract. >> brown: explain for our non-tumblr users in the audience what it is. how has it been able to rise so

yahoo's ceo marisa mayer, david karp, both live on "squawk on the street."at. >>> time for the final trade as we go around the horn. pete, you are up first. >> financials, blackstone, bx. >> bk? >> apache even though it was up 3.5%, more room to go. >> karen? >> if you own warner chilcott, time to sell. >> conocophillips seems to have the mojo back. >> that wraps st. >> my mission is simple. making money. we want to level the playing field for all investors. i promise to help you find it. "mad money" starts now! . hey, i'm claimramer. welcome to "mad money." my job is not just to entertain you, but to educate you. call me, 1-800-743-cnbc. lightning struck once, not twice two, two people this week. the good kind of gh

dagen: i think he'd just made it uncool by signing up for it this morning. [ laughter ] 26-year-old david karpnd his mother's new york city apartment. he is now worth somewhere north of $200 billion with this deal. he dropped out of high school here in new york city. the big bat for marissa mayer. she does not even know it. posting on her tumbler account, i am delighted to announce that we've reached an agreement to acquire tumblr. we promise not to screw up. tumblr is incredibly special and has a great name going. connell: you look at like, facebook, for example. i asked how the facebook phone was selling. when facebook was cool a couple years ago, they would have sold these phones. dagen: to change the subject slightly, jolene said ad spam and babies. don't you hate facebook. [ laughter ] connell: that is what it has come to. dagen: i find twitter very useful. connell: i have never used tumbler in my life. moving on to these terrible tornadoes in the middle of the country. oklahoma really getting slammed. the latest is just ahead on that. dagen: we have the latest forecast for you coming up.

tumbler was started 60 ago by high school dropout and david karp , there are 108 million blocks on thee lorain in the big- league operated and karp will stay see all. >> consumer spending is likely to pick up this year while government spending declined at a faster rate. according to a survey of business economists, the u.s. economy will grow to 24% this year and 3% next year. that is unchanged from their forecast in february. but they're more confident of consumer spending and housing market and they were three years ago--three months ago. that reflects a more positive view on unemployment. >> will be back with more on the kron 4 morning news. >> welcome back. >> top stores were following this morning fire crews are on scene it three alarm house fire in greenbrae. all three occupants of the house got out safely. and more trouble for the navy since ban of the bay bridge. engineers discovered that ducts containing thousands steel tendons have been left unsealed exposing those tennis during fall on saltwater. that has some worry that could lead to corrosion. and more efforts were made th