Aww!! Yahoo! To Purchase Tumblr for $1.1 billion
Tech giant Yahoo! is reportedly expanding its empire, acquiring blogging site Tumblr in a $1.1 billion, all-cash deal. The acquisition is the biggest for the company since CEO Marissa Mayer took the helm at Yahoo! nearly one year ago. Tumblr is a site that hosts 108 million blogs and more than 51 billion posts and is popular among a younger demographic, a segment where Yahoo is looking to gain a foothold, sources told
All Things D.
Mayer apparently thinks the purchase will be “the stake in the ground of what her strategy is going forward for Yahoo!,” the source said.
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Source: www.nydailynews.com