Yahoo to acquire Tumblr in $1.1 billion cash deal

That cat’s out of the bag a day early, it seems. Yahoo’s board has approved a $1.1 billion cash deal to purchase the blogging site Tumblr, according to The Wall Street Journal.

We were expecting Yahoo to announce the acquisition during tomorrow’s NYC media event — CEO Marissa Mayer may instead use the last-minute gathering to detail the company’s plans for integrating the popular platform. It’s unclear how Yahoo intends to utilize its latest procurement, but with a 10-figure price tag now public, we can only imagine that Tumblr will be put to good use. We’ll be covering tomorrow afternoon’s event live, so stay tuned for more details from New York City.

Yahoo to acquire Tumblr in $1.1 billion cash deal

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s