Yahoo To Buy Tumblr For BIG Buck$!!

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├óΓé¼Γäóre not turning purple. Our headquarters isn├óΓé¼Γäót moving. Our team isn├óΓé¼Γäót changing. Our roadmap isn├óΓé¼Γäót changing. And our mission ├óΓé¼ΓÇ£ to empower creators to make their best work and get it in front of the audience they deserve ├óΓé¼ΓÇ£ certainly isn├óΓé¼Γäót 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.]