background image with text positioned on top

HTML

<div style="width: 300px;
height: 300px;
background: transparent url(http://placehold.it/1000x1000) 0 0 no-repeat;
position: relative;">
    <div style="width:90%;padding:5%">
    <p>Lorem</p>
    <p>Donec</p> 
    </div>
</div>