Yahoo to Buy Tumblr for $1.1 Billion
Yahoo today announced that it has agreed to purchase Tumblr for $1.1 billion in cash. Tumblr is a blogging platform that, by Yahoo CEO Marissa Meyer's own admission, "couldn’t be more different" than Yahoo. Despite the differences, Meyer believes the two companies will be complementary to one another in the long run. Yahoo made a distinct promise "not to screw up" Tumblr. It will be operated as a separate company, and its leadership team will remain intact. Tumblr CEO David Karp said, "Our team isn't changing. Our roadmap isn't changing. And our mission – to empower creators to make their best work and get it in front of the audience they deserve – certainly isn't changing." Tumblr is accessible from the web, and also via dedicated smartphone applications for the Android, iOS, and Windows Phone platforms. The Tumblr apps can be used to view the blog, as well as create posts, upload photos, make comments, and more.
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