Bangalore: The Founder of Tumblr signed a $1.1 billion deal with Yahoo not only to sell his company, but also to stick with Yahoo for the next four years, reports Huffington Post. David Karp, the owner of the internet blogging service will get $81 million to stay in yahoo. The retention payment was disclosed recently on a regulatory filing.

Karp started the service in 2007 after he was dropped out of high school in New York. The Tumblr owner who is now 27, concentrated on computer programming to develop the micro blogging site. As per Marissa Mayer, CEO of Yahoo, no drastic changes will be made to the service in the long run due to fear of isolation may cause dropping in users who are teenagers and youth. . Karp is currently allowed to run this service from his New York office even when Yahoo is based in California. He is supposed to work under Yahoo till 2017 to receive the retention payment and is believed to hold 20-25 percent of the share of Tumblr. As per Yahoo’s filing, out of $81 million, $41 million will be paid in stock and the rest in cash. There are documents that states that Yahoo had paid $44 million to acquire six more companies by June and $1.15 billion for 10 other company’s including Tumblr during the first half of the year. Yahoo had also bought several other startups and is supposed to disclose the details by November last.