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Published February 11, 2009 at 11:15 AM
David Karp, the 22-year-old founder of the multimedia microblogging service provider Tumblr Inc., discloses some interesting details about the $4.5 million Series B announced in December in the current episode of The Deal's Behind the Money video show.
Tumblr's most recent round didn't include any new investors because existing backers Spark Capital and Union Square Ventures approached him before he had even considered raising a second round, he says. Earlier investors in Tumblr include TV producer Fred Seibert, entrepreneurs Jakob Lodwick and Martin Varsavsky, as well as Betaworks.
The most recent round is helping to fund Tumblr's redesign and taking the service to "the next level." Watch the video below or download it at iTunes. - Mary Kathleen Flynn
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Leezie Kim is rejoining the Phoenix office of Quarles & Brady LLP as a partner. She will continue her corporate transactions practice. For other updates launch today's Movers & shakers slideshow.
Dechert's Henry Nassau at the 18th annual Wharton Private Equity and Venture Capital Conference tells The Deal Pipeline how to shine in the middle market. More video
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