Earlier today we had reported that Yahoo’s board of directors had reportedly approved the company’s buyout of Tumblr for $1.1 billion, and sure enough it turned out to be true as Yahoo’s CEO, Marissa Mayer, announced the acquisition herself on her Twitter account. The company has officially announced that they will be acquiring Tumblr in a $1.1 billion cash deal, and that they will be keeping Tumblr’s CEO, David Karp, on board, and that Tumblr will continue operating independently as a separate business. Interestingly the company has also added that they promise not to “screw it up”, which we guess is good news for Tumblr users who might be worried that with Yahoo acquiring the company, things will be changing drastically and not necessarily for the better either.
According to Marissa Mayer on Yahoo’s Tumblr page, “Tumblr can deploy Yahoo!’s personalization technology and search infrastructure to help its users discover creators, bloggers, and content they’ll love. In turn, Tumblr brings 50 billion blog posts (and 75 million more arriving each day) to Yahoo!’s media network and search experiences. The two companies will also work together to create advertising opportunities that are seamless and enhance user experience.” While it definitely sounds promising, what do Tumblr users have to say about this? Are you worried or excited about this acquisition? [Press Release]
Next Story: Is Google Planning On Announcing Something Soon?
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- 2013-05-19: Tumblr Being Acquired By Yahoo For $1.1 Billion [WSJ]