Tumblr CEO: Net neutrality rules like Bill of Rights

Tumblr founder and CEO David Karp told CNBC on Tuesday that net neutrality rules proposed by the FCC will ensure "a free, open marketplace of services."

"I think [it's] a bright line rule that sort of spells out the principles that we believe in, I think the Bill of Rights, is a good thing," he said in an interview on CNBC's "Squawk Box."

"The way that we see the most innovation is sort of separating the layers of the stacks, making sure there's a competitive market for carriers," said Karp, whose blogging site was purchased by Yahoo for $1.1 billion nearly two years ago.

"Then on top of that," he continued, "you have a free, open marketplace of services that count on a neutral Internet to build their platforms."

In November, President Barack Obama urged the FCC to take up the "strongest possible rules" to make sure all Internet traffic is treated equally.

Before the Karp interview, FCC Chairman Michael Powell told "Squawk Box" the proposed rules were an example of the Obama administration's meddling in private enterprise. The FCC is expected to vote on the rules on Thursday.

Read More Ex-FCC chief shocked by Obama net rules meddling

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