Only a couple of days ago we reported that Yahoo was apparently interested in acquiring Tumblr for $1 billion. Tumblr is believed to be ideal for brand advertising as its user base majorly consists of young and creative crowd. Yahoo has recently been on an acquiring spree as it hopes to turn itself around with ex-Googler Marissa Mayer as CEO. The Wall Street Journal claims via Twitter that Yahoo’s board has approved a $1.1 billion cash deal for the acquisition of Tumblr.
It is being said that Yahoo will be officially announcing this acquisition tomorrow at a media event in New York. Obviously it is a bit too soon to comment on how exactly Yahoo plans on using Tumblr and its substantial user base to its advantage. Despite being one of the major blogging platforms out there, Tumblr’s revenues are termed as “modest.” Perhaps we might see a major change in direction with regards to revenue generation? One of the reasons behind this acquisition is believed to be Yahoo’s aim to offer a competitor for Google’s popular Blogspot service, with Tumblr now reportedly securely under its belt, that aim doesn’t seem too far-fetched now.
- 2014-04-07: Yahoo Planning To Acquire High-End Original Programming [Report]
- 2014-04-02: Yahoo Works On Encrypting Their Services
- 2014-04-01: Yahoo's Charge Against YouTube May Be Fuelled By $300 Million Acquisition
- 2014-03-30: Yahoo Poaching YouTube Stars, Working On Rival [Report]
- 2014-03-24: Yahoo Screen Now On Roku
- 2014-01-14: Tumblr Now Lets Users Mention And Link To Other Users In Posts
- 2013-05-30: Tumblr Brings In-Stream Ads To Its Website
- 2013-05-21: Yahoo Will Not Restrict Tumblr's NSFW Content Post-Acquisition
- 2013-05-20: Are Tumblr Users Defecting To WordPress?
- 2013-05-20: Yahoo To Officially Acquire Tumblr For $1.1 Billion