What you need to know to understand Alexey Navalny, one of Vladimir Putin’s loudest critics
How some North Dakota farmers and two former Cheesecake Factory execs are reinventing casual dining
Campaigns to raise the minimum wage are finally coming to fruition
The Salesforce.com CEO is pushing his fellow tech billionaires into giving back to the city
From the U.S. jobless rate to the ruble to pollution in Beijing, here are 10 key indicators that you'll want to keep an eye on
Irate parents find an "extruding tool" for decorating cakes unsavory
Reward points suffer from inflation, too. Here are three strategies for getting the most out of the points you have, before their value falls
"No place to rage quite like the Kasper Multipurpose Room," one student gripes
The Zappos CEO is spending $350 million to build a startup paradise in downtown Las Vegas. It hasn't been all unicorns and butterflies
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."