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Yahoo Back On Top After Purchasing Millions Of 13-Year-Old Girls’ Blogs: Full Report
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Actor Morgan Freeman received the Doctor of Humane Letters award on graduation day at Boston University this weekend. From picture desk live: the day’s news in pictures
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Everyone, I’m elated to tell you that Tumblr will be joining Yahoo.
Before touching on how awesome this is, let me try to allay any concerns: We’re not turning purple. Our headquarters isn’t moving. Our team isn’t changing. Our roadmap isn’t changing. And our mission – to empower creators to…
The rumors turned out to be true: Yahoo has purchased Tumblr for $1.1 billion, in what may be the first corporate acquisition announced via .gif.
Background on the Yahoo-Tumblr deal
Yahoo CEO Marissa Mayer has been looking to revitalize Yahoo since hopping aboard last year, examining several companies for possible acquisition. But it wasn’t until early this morning that Yahoo’s big push to gain the trust of a younger online audience was finally confirmed with a $1.1-billion purchase of Tumblr.
But many of the Tumblr faithful are concerned about Yahoo’s shaky track record in properly handling fresh acquisitions:
Yahoo has a history of buying promising young companies only to let them waste away. Acquisitions under previous Yahoo chiefs such as Geocities, an early social networking site, and Flickr, the popular photo sharing website, were long neglected within the company.
Mayer, aware of the widespread concerns of an audience that contains many users who weren’t even alive when Yahoo began, maintains that Tumblr will be independent:
We promise not to screw it up. Tumblr is incredibly special and has a great thing going. We will operate Tumblr independently. David Karp will remain CEO. The product roadmap, their team, their wit and irreverence will all remain the same as will their mission to empower creators to make their best work and get it in front of the audience they deserve.
Read more on the Yahoo-Tumblr deal via tech reporter Jessica Guynn, or sound off below on whether Yahoo’s move is brilliant, or doomed to be a bust.
.gif: Yahoo
The Onion’s Tips For New College Graduates: Full Report
“Knowing how to be solitary is central to the art of loving. When we can be alone, we can be with others without using them as an escape.” — Bell Hooks (via mishproductions)
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