Technology content trusted in North America and globally since 1999
8,588 Reviews & Articles | 67,066 News Posts

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

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

By Trace Hagan on May 19, 2013 11:45 pm CDT - 0 mins, 32 secs reading time

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.

reporttt_yahoo_s_board_approves_tumblr_acquisition_for_1_1_billion_1

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.

Trace Hagan

ABOUT THE AUTHOR - Trace Hagan

Trace is a starving college student studying Computer Science. He has a love of the English language and an addiction for new technology and speculation. When he's not writing, studying, or going to class, he can be found on the soccer pitch, both playing and coaching, or on the mountain snowboarding.

NEWS SOURCE:allthingsd.com

Related Tags