Yahoo's Board to meet Sunday to discuss $1.1 billion all-cash deal for Tumblr; press event set for Monday
posted by Alan F. / May 17, 2013, 11:33 PM
The deal has apparently been agreed to by Tumblr although nothing is set in stone until both sides make the announcement. That will come as soon as Monday assuming Yahoo's board rubber stamps the acquisition. Mayer turned to Tumblr about 6 weeks ago and its strength in mobile is another reason why the executive is so enthused about the company. According to comScore, 25% of the site's visitors come from a mobile device.
After the acquisition, Tumblr CEO David Karp will continue to run the business and will be given the room to grow the business with a four year contract. Meanwhile, Yahoo has scheduled a major press event for Monday at which the Tumblr acquisition could be announced. But Bloomberg is reporting that the press event will be held to announce an update to the Flickr photo-sharing site.
source: AllThingsD, Bloomberg
Posts: 663; Member since: Aug 20, 2011
somebody stop them!!!!!!!!! tumblr will be dead
posted on May 18, 2013, 12:37 AM 5
Posts: 800; Member since: Nov 29, 2011
Hope it doesn't become bad acquisition like 'draw something' became for Zynga............. They should have purchased Instagaram, when there was time, and Nokia-Microsoft would have been begging them to develop it for their Platform, but Tumblr!!!!! Hope this doesn't become first dumb move from CEO Marissa.......
posted on May 18, 2013, 3:28 AM 2
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