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Yahoo To Buy Tumblr For BIG Buck$!!

| Filed under: Business Blitz

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It's official!

Internet staple Yahoo has agreed to buy the ever-popular blogging site, Tumblr, for a whopping $1.1 billion!!

That price tag makes this major deal the LARGEST acquisition of a social media company in YEARS, overshadowing Facebook's $1 billion purchase of Instagram last year.

The purchase was made by Yahoo chief executive Marissa Mayer in an effort to make the fading company appeal to a younger crowd.

With over 108 million blogs, Tumblr will (hopefully) push Yahoo into the forefront of the social networking and smart phone revolution.

But don't worry guys! Your fave blogging site will not change TOO much.

In an open letter to loyal followers, Tumblr founder David Karp said:

"Before touching on how awesome this is, let me try to allay any concerns: We’re not turning purple. Our headquarters isn’t moving. Our team isn’t changing. Our roadmap isn’t changing. And our mission – to empower creators to make their best work and get it in front of the audience they deserve – certainly isn’t changing."

Phew!!!!

Sounds like a win-win situation and we CANNOT wait to see just how this money exchange changes the game.

Congrats to you David AND your bank account!

[Image via Yahoo/Tumblr.]

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3 comments to “Yahoo To Buy Tumblr For BIG Buck$!!”

  1. Never says – reply to this


    1

    I don't believe it. Did you see their crappy clothes and their small apartment?
    Where is the Pasta Rocket? The Rolls Royce? Diamonds, furs?

  2. RainbowBrite says – reply to this


    2

    Give it time. Yahoo will slowly destroy Tumblr. That company hasn't been legit since late 90's early 2000's.

  3. Ajay Prasad says – reply to this


    3

    Tumblr is one of the best social media marketing site. Its a great move by yahoo to buy tumblr.