Yahoo Buys Tumblr For $1.1 Billion

A photo illustration shows the applications of Yahoo and Tumblr on the screen of an iPhone in Zagreb May 20, 2013. REUTERS/Antonio Bronic

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.

Yahoo Buys Tumblr

source

Advertisements
1 comment

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

%d bloggers like this: