Yahoo Buys Tumblr For $1.1 Billion
Yahoo Inc is acquiring blogging service Tumblr for $1.1 billion cash.
The deal will use about 1/5 of Yahoo’s $5.4 billion in cash and marketable securities.
“Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business,” Yahoo said in a statement on Monday.
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