It looks like Tumblr's ad push is starting to pay off.
The company generated $13 million in revenue in 2012 and hopes to bring in $100 million in revenue this coming year, according to a Forbes profile of Tumblr's founder and CEO David Karp.
That might not sound like much for a social network that recently cracked Quantcast's list of the 10 most-trafficked websites in the U.S., but it represents a significant improvement from last year when the company really had no revenue model in place.
Tumblr finally started rolling out ad products in 2012, starting with Highlighted Posts in February, which function like promoted posts on Twitter and Facebook. In the following months, the company rolled out several additional features, including a Pinned Posts, Radar and a premium analytics tool for brands and marketers that costs $500 per month.
While Tumblr will certainly continue to ramp up its revenue generation efforts, the company isn't exactly aching for cash at the moment.
Tumblr has raised $125 million in funding to date, and Karp tells Forbes the company has kept "most of" it. It spent about $25 million to fund operations last year and expects to spend $40 million this year.