TweakTown
Tech content trusted by users in North America and around the world
5,668 Reviews & Articles | 36,029 News Posts

ReportTT: Yahoo's Board approves Tumblr acquisition for $1.1 billion

Report: Yahoo's Board approves $1.1 billion acquisition of Tumblr

| Business, Financial & Legal News | Posted: May 20, 2013 4:45 am

Yahoo's Board of Directors has reportedly approved a $1.1 billion acquisition of the blogging site Tumblr. News broke on Friday that Yahoo was considering picking up the blogging site that has slowly been gaining popularity among Internet users.

 

TweakTown image news/3/0/30459_1_reporttt_yahoo_s_board_approves_tumblr_acquisition_for_1_1_billion.png

 

The deal is expected to be announced tomorrow at the press conference that Yahoo hastily scheduled on Friday. Tumblr CEO David Karp will reportedly remain with Yahoo for a minimum of four years and he is said to be retaining a lot of control over the blogging service, much like Instagram's CEO did when acquired by Facebook.

 

If Yahoo does announce this deal tomorrow, we'll let you know.

NEWS SOURCE
Allthingsd.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Post a Comment about this news

Latest Tech News Posts

View More News Posts

Latest Downloads

View More Latest Downloads

TweakTown Web Poll

Question: Did EA kill the Battlefield franchise with the terrible BF4 issues?

Yes, Battlefield is doomed

No, Battlefield will live on strong

I'm not sure, but I know EA needs to improve its game

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases
Get TweakTown updates via Facebook!
Just click the "Like" button below