Yahoo's board agrees to $1.1 billion acquisition of Tumblr

Yahoo's board agrees to $1.1 billion acquisition of Tumblr
As expected, Yahoo's board has agreed to purchase hosting site Tumblr for $1.1 billion. The deal makes Tumblr a major part of a new plan by Yahoo CEO Marissa Mayer to make Yahoo hip and relevant to those who are, well, hip and relevant. Despite rumors that Microsoft and Facebook were interested in Tumblr, there were no competing bids for the board to consider although the approval by Yahoo's board doesn't preclude another bid from coming.

Yahoo has scheduled a press event for Monday at which time it is expected to announce the deal as well as an update to social picture sharing site Flickr. We will be updating this story throughout the day as new information comes in.

source: AllThingsD

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17 Comments

1. TROLL

Posts: 4851; Member since: Apr 13, 2012

Yahoo has 1billion in reserves! Wow! Google should'ev bought it! ®

12. AnTuTu

Posts: 1596; Member since: Oct 14, 2012

hahaha troll :)

2. cwiley5045

Posts: 23; Member since: May 07, 2010

Hope this isnt Yahoo CEO Marissa first big mistake. From what I know Yahoo has 3 billion in cash. This is a large gamble for the company to get the youth.

3. madpiyal

Posts: 108; Member since: Feb 11, 2013

Ya, its a big risk she is taking but it might be the only one which in future be fruitful. Time will be the decider, lets see what happens.

4. corporateJP

Posts: 2458; Member since: Nov 28, 2009

Well, Tumblr was fun while it lasted...

8. jcarrigan unregistered

what is tumblr? what is flickr? i know twitter and facebook and google+ but all these other social things have me confused.

10. israinwet

Posts: 47; Member since: Nov 29, 2012

tumblr is awesome. You need to check it out

11. jcarrigan unregistered

sir, what...is...tumblr?

5. PermanentHiatus

Posts: 267; Member since: Jun 22, 2012

They should've purchased Vine instead. Vine is the future.

6. InspectorGadget80 unregistered

Yahoo goes bankrupt as the board gets bonuses & everyone loose their job

7. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

The working stiffs always end up getting the shaft. It is just 'bidness.

9. roscuthiii

Posts: 2383; Member since: Jul 18, 2010

I hope Marissa has more up her sleeve than just purchasing Tumblr. I think it's going to take a lot more than pictures of what some acquaintances ate for breakfast, softcore/some-hardcore porn gifs, and daily affirmation comics (oh and the cats, must never forget all the cats) if she wants to make Yahoo hip & relevant again. Was it ever really hip? Maybe back in the days when MapQuest meant something and they had Yahoo Chat, but that one devolved rather quickly into adolescent boys and middle aged men from whichever-country-you-are-in-they're-not-from-it asking a perpetual barrage of "a/s/l" & "cam?" (oh, and the bots, must never forget all the bots).

13. mydi.maus unregistered

whats tumblr?!..:)

14. kissily

Posts: 53; Member since: Oct 09, 2012

Hope it goes well for Yahoo. They really are struggling to compete with Google.

15. TROLL

Posts: 4851; Member since: Apr 13, 2012

Good luck yahoo ®

16. taikucing unregistered

$1.1 billion is too much. Yahoo should buy it at $100 million

17. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

At a $100 million offer, there wouldn't have been a deal for Yahoo!'s board of directors to consider.

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