Yahoo Completes $1.1B deal for Tumblr

Published June 21, 2013
This May 19, 2013 photo illustration taken in Washington, DC, shows the splash page for Yahoo and blogging platformTumbler seen on an iPhone. Yahoo! said June 20, 2013 it has completed a billion-dollar deal taking over the popular blogging platform Tumblr, a move aimed at bringing more youthful users into the company's orbit. "We're excited to announce that our deal to acquire Tumblr has closed -- it's official!" Yahoo! chief executive Marissa Mayer said. "As promised, Tumblr will continue to operate as a separate
This May 19, 2013 photo illustration taken in Washington, DC, shows the splash page for Yahoo and blogging platformTumbler seen on an iPhone. Yahoo! said June 20, 2013 it has completed a billion-dollar deal taking over the popular blogging platform Tumblr, a move aimed at bringing more youthful users into the company's orbit. "We're excited to announce that our deal to acquire Tumblr has closed -- it's official!" Yahoo! chief executive Marissa Mayer said. "As promised, Tumblr will continue to operate as a separate

Sunnyvale, California- Yahoo has completed its $1.1 billion acquisition of online blogging forum Tumblr.

The move represents Yahoo CEO Marissa Mayer's boldest move since she left Google a little less than a year ago to lead Yahoo's comeback.

It also marks Yahoo's most expensive acquisition since the Sunnyvale, Calif., company bought online search engine Overture for $1.3 billion 10 years ago.

Mayer is betting that Tumblr, a six-year-old service started by high school dropout David Karp, will help Yahoo bring in more traffic and advertisers on smartphones and tablets.

Under the terms originally announced in May, Tumblr will remain independently operated and Karp will stay CEO.

Opinion

Editorial

Privatisation divide
Updated 14 May, 2024

Privatisation divide

How this disagreement within the government will sit with the IMF is anybody’s guess.
AJK protests
14 May, 2024

AJK protests

SINCE last week, Azad Jammu & Kashmir has been roiled by protests, fuelled principally by a disconnect between...
Guns and guards
14 May, 2024

Guns and guards

THERE are some flawed aspects to our society that we must start to fix at the grassroots level. One of these is the...
Spending restrictions
Updated 13 May, 2024

Spending restrictions

The country's "recovery" in recent months remains fragile and any shock at this point can mean a relapse.
Climate authority
13 May, 2024

Climate authority

WITH the authorities dragging their feet for seven years on the establishment of a Climate Change Authority and...
Vending organs
13 May, 2024

Vending organs

IN these cash-strapped times, black marketers in the organ trade are returning to rake it in by harvesting the ...