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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:

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