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 CEO Marissa Mayer has been meeting with top Tumblr executives, including Tumblr CEO David Karp. The rumors of a potential acquisition come after Yahoo CFO Ken Goldman spoke at JP Morgan’s Global Technology conference about the need for the company to attract the 18-to-24-year-old demographic in an effort to make Yahoo “cool again.”
Tumblr is a micro-blogging platform that has grown in popularity over recent years, hosting blogs that have gone on to become or create extremely popular memes.
The potential acquisition would be Mayer’s biggest move since becoming Yahoo CEO in July. Since taking the reins, Mayer has revamped the Yahoo homepage along with Yahoo Mail, and spent millions on smaller acquisitions, including a $30 million purchase of Summly, a mobile news app created by a 17-year-old British developer.
The reported $1 billion price tag for Tumblr would be one of the biggest acquisition deals in tech history. By comparison, Facebook bought photo-sharing service Instagram for $1 billion, but due to Facebook’s stock troubles, the final price Facebook paid was $741 million.
A documentary that explores the downloading revolution; the kids that created it, the bands and the businesses that were effected by it, and its impact on the world at large.
Official Wesbite: downloadedthemovie.com
Starring: Shawn Fanning
Directed By: Alex Winter
Written By: Alex Winter
Internet entrepreneur and innovator Kim Dotcom launches cloud storage site MEGA, one year after #MEGAUPLOAD was shut down by the US Government. The file sharing service is one of the fastest growing start ups in internet history with over 100,000 users within the first hour of its launch. Checkout promo video for Kim’s new start up below:
Trailer for the upcoming documentary about the founders of the filesharing site the Pirate Bay.
The film will be released for free online at the premiere of a major film festival. Release date to be announced during Jan 2013.
Directed by Simon Klose
Footage from the raid on Megaupload founder Kim Dotcom’s New Zealand home has finally been released and it’s adding more controversy to a case that is not going smoothly for U.S. authorities.
The raid was carried out on January 20, 2012 by New Zealand’s Elite Special Tactics Group in response to U.S. charges of criminal copyright infringement. The team used two helicopters, four police vehicles, police dogs and officers armed with semi-automatic Colt Commando 5.56 guns according to Business Insider.com.
Dotcom was at home with his pregnant wife, three children, some guests and staff when the raid occurred. Checkout Video below:
Chinese e-commerce site Alibaba has bought half of Yahoo’s stake in the company — 20% of Alibaba’s shares — back from Yahoo for $7.1 billion.
Under the terms of the agreement, Yahoo will sell half its stake in Alibaba for at least $6.3 billion in cash and up to $800 million in new Alibaba preferred stock. Read More
Doggie Diamonds of www.ForbezDVD.com talks with Big Fendi, the man who started the Come Up DVD series. Fendi goes in on Nicki Minaj for never compensating him for helping to launch her career.
Fendi also accuses director Jordan Tower of stealing his videos and featuring them on WorldStarHipHop as his own.
Checkout more videos of Nicki Minaj before she was a ‘pop icon’ on Come Up DVD series after the jump.
Experian Hitwise, which has analyzed the top 1,000 search terms for 2011, is reporting that Facebook was the top-searched term overall in the U.S. for the third year in a row. Four variations of the term “facebook” were among the top 10 terms and accounted for 4.4 percent of searches overall, a 24 percent increase from 2010.
Searches for “youtube” actually moved up from the third spot in 2010 to the second spot in 2011. “Facebook login” was the third most-searched term in 2011, followed by “craigslist” and “facebook.com.” Facebook.com moved up one spot in 2011 to be among the top five search terms. When combined, common search terms for Facebook, such as facebook and facebook.com, accounted for 3.5 percent of all searches in the United States among the top 50 terms, up 33 percent compared with 2010. Read More
AT&T on Monday ended its pursuit of T-Mobile, bowing to government opposition to the $39 billion deal that would have created the nation’s biggest mobile provider of phone and Internet service.
The companies agreed to end last-ditch negotiations to restructure their merger and win over leery antitrust officials. As a penalty, AT&T will hand to T-Mobile’s parent, Deutsche Telekom, $4 billion worth of cash and other assets.
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