Yahoo Acquires Tumblr for $1.1 Billion
May 20, 2013 11:12 AM
comment(s) - last by
The Yahoo/Tumblr deal will close in the second half of the year
Yahoo announced today that it will acquire Tumblr under a new agreement -- and even promised "not to screw it up."
Yahoo will acquire Tumblr for $1.1 billion in cash, according to a Yahoo press release. Yahoo likely hopes to use Tumblr's position as a popular social media site to attract visitors to Yahoo's other offerings and bump up search use by integrating it into Tumblr.
Tumblr has over 300 million monthly unique visitors; 120,000 signups every day; receives 900 posts per second; users spend 24 billion minutes on the site each month, and more than half of Tumblr’s users are using the mobile app and do an average of 7 sessions per day.
The new agreement is expected to widen Yahoo’s audience by 50 percent to over a billion monthly visitors. Traffic is also expected to grow by by 20 percent.
“Tumblr is redefining creative expression online,” said Yahoo CEO
. “On many levels, Tumblr and Yahoo! couldn’t be more different, but, at the same time, they couldn’t be more complementary. Yahoo is the Internet’s original media network. Tumblr is the Internet’s fastest-growing media frenzy. Both companies are homes for brands - established and emerging. And, fundamentally, Tumblr and Yahoo! are both all about users, design, and finding surprise and inspiration amidst the everyday.”
Under the new deal, Tumblr will be independently ran as a separate business, with Tumblr CEO David Karp keeping his position. Yahoo also assures that Tumblr will continue catering to users on the site the way it always has (meaning, Yahoo won't interfere with a good thing).
However, Tumblr will use Yahoo’s search and personalization technology to help users find creators and content.
“Our team isn’t changing," said David Karp, CEO of Tumblr. "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. But we’re elated to have the support of Yahoo! and their team who share our dream to make the Internet the ultimate creative canvas. Tumblr gets better faster with more resources to draw from.”
Yahoo could certainly use all the help it can get. Mayer is looking to lead the company back to profitability after it lost ground to search giant Google. Mayer has made many changes, including the requirement for all telecommuters to
start working in a local office
or quit (which some saw as a way to announce layoffs without officially calling it a layoff) and the
axing of seven products from its line
back in March (including the mobile app for BlackBerry users, Yahoo Avatars, Yahoo App Search, Yahoo Sports IQ, Yahoo Clues, Yahoo Message Board website, and the Yahoo Updates API).
The Yahoo/Tumblr deal will close in the second half of the year.
This article is over a month old, voting and posting comments is disabled
5/20/2013 2:37:51 PM
Congratulations Marisa for this big entry into the porn business. Next stop youporn?
Not sure the advertisers will like it though.
"Well, we didn't have anyone in line that got shot waiting for our system." -- Nintendo of America Vice President Perrin Kaplan
Yahoo to Chop Seven Products from Its Line Including BlackBerry App
March 4, 2013, 8:33 AM
Yahoo Will Require Telecommuters to Come into the Office Starting in June
February 25, 2013, 8:12 AM
New Yahoo CEO Marissa Mayer to Receive $70 Million Over Five Years
July 20, 2012, 9:17 AM
Edward Snowden Presents Tech to Stop Government Spying
July 21, 2014, 12:00 PM
Verizon FiOS Network Upgrade Brings Symmetrical Upload/Download Speeds
July 21, 2014, 8:33 AM
Amazon Launches First Fire Phone TV Spot, Spends 30 Seconds Promoting Prime
July 18, 2014, 11:17 AM
Samsung Continues to Pick on Apple's iPad in Two New Commercials
July 13, 2014, 5:35 PM
Despite Legal Threats Google Begins Posting Warnings of ISP Throttling
July 7, 2014, 5:52 PM
Russia Introduces Bill to Keep Citizens' Data Within the Country
July 3, 2014, 2:34 PM
Most Popular Articles
Quick Note: Nokia Devices Now Receiving Windows Phone 8.1 Update
July 15, 2014, 10:42 AM
Microsoft Kills Entertainment Unit, May Shelve Flagship Lumia "McLaren"
July 18, 2014, 7:40 PM
Boeing 777 Malaysian Airlines Flight 17 Crashes in Ukraine
July 17, 2014, 1:00 PM
Tesla Confirms “Model III” EV with 200+ Mile Range, Blames Ford for Missed "SEX"
July 15, 2014, 9:12 PM
FBI Report Suggests That Self-Driving Cars Could Be Used as Rolling Bombs
July 16, 2014, 11:02 AM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information