Bondholder Kenneth Dart, after staying quiet, says he wants full payment—just like Paul Singer
Does SodaStream's turn toward branding itself as a sparkling water vendor—and its dismal financial performance—suggest that it's seeking a different future?
A federal judge in New York refuses to exterminate an asbestos union's inflatable rat, saying "Scabby the Rat" is covered by the First Amendment
In October, more than two customers joined T-Mobile from a competitor for every customer that left it
Dominique Strauss-Kahn acquired a 20 percent stake in a Luxembourg finance firm last year, but quit his chairmanship on Oct. 20. His ex-partner Thierry Leyne died on Oct. 23
Ministry of Supply’s Aviator jacket combines the structure of a tailored garment with the functionality of a windbreaker
Marvel isn't keeping quiet about its movie plans now that DC has publicized its long slate of superhero vehicles
The schools are spending $52,000 to mail 100,000 apology letters to Montana voters
This year's must-have Silicon Valley office accessory: a $199 bear costume
Entrepreneur: David Karp, 22
Funding: $5.25 million from Union Square Ventures, Spark Capital, Betaworks
Somewhere between full-throttled blog software, such as WordPress, and minimalist microblogging tools, such as Twitter, lies Tumblr. New York native David Karp introduced Tumblr in 2007, using money and experience he'd acquired as a software consultant for online parenting site UrbanBaby. Tumblr has attracted 800,000 users, including pop music stars Katy Perry and John Legend, who use the free service to keep an online journal of photos, videos, music, and text. Karp says $4.5 million raised in December gives Tumblr plenty of money to stay focused on attracting users. But he expects the company to generate revenue this year by customizing its platform for big media companies and by charging regular users who want extra services, such as more visibility for their pages.
Lessons learned: "Most of the good decisions I've ever made I can credit to the smart people around me," Karp says. "My role models and my mentors have made a lot smarter decisions than I have."