According to the latest update, Yahoo board has agreed to purchase the blogging platform Tumblr. If reports are to be believed, the deal will close for $1.1 billion in cash.
Founded in 2007 and headquartered in New York, Tumblr is a microblogging platform and social networking website which allows users to post multimedia and other content to a short-form blog. Presently, it has more than 107 million blogs, 50 billion postings in 12 languages and 175 employees.to the reader’s surprise, Tumblr hosts over 108.2 million blogs and more than 50.8 billion posts in total, as of May 19, 2013.
It is worth noticing here that Tumblr would continue to be run as a separate business and independent property even after acquisition.
Market watchers added, if the acquisition takes place, it would be the biggest acquisition for Yahoo under the guidance of newly appointed CEO Marissa Mayer.
