Yahoo! to buy Tumblr for $1.1B - report ~ Pinoy Media

Tuesday, May 21, 2013

Yahoo! to buy Tumblr for $1.1B - report


AFP reported that the board of Yahoo! has agreed to a deal to purchase the popular blogging platform Tumblr for $1.1 billion with CEO Marissa Mayer to schedule a news conference in New York at which the company said it will unveil "something special."


Yahoo! has been looking at a range of acquisitions since Mayer took over as chief executive last year and vowed to revive the company, which has faded in the face of competition from Google.

Founded in 2007 and headquartered in New York, Tumblr says it has more than 107 million blogs, 50 billion postings in 12 languages and 175 employees. The website ranking site Alexa lists Tumblr as number 32 in terms of global popularity.
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