Yahoo! Acquires Tumblr, Allegedly

Rumors have been swirling that Yahoo has acquired social blogging service Tumblr, but a breaking news alert from the Wall Street Journal’s website may have given it a little more credibility. The report states that Yahoo’s board of directors has approved to acquire the blogging platform for a whopping $1.1 billion.

WSJ adds that the deal is reportedly an all-cash acquisition and that Tumblr will maintain control of its operations. But with both companies not releasing any official statements about the matter, it is difficult to confirm this report. We would have to wait for a few hours today, Monday, for Yahoo’s CEO Marissa Mayer to discuss about the acquisition, that is if there is such a thing.

AllThingsD has reported that Mayer was particularly interested in Tumblr’s much younger user base and has been in talks with her board of directors about acquiring Tumblr for the last six weeks. The tech blog has also said that no other parties attempted to bid on Tumblr.

The Tumblr acquisition is the latest of Yahoo’s spree of buyouts since Mayer became CEO. The web pioneer has purchased 10 startups, including Stamped, a mobile application for finding and recommending activities; Summly, a news browsing app; and Astrid, a to-do list app.

Tumblr, which was launched in 2007, has over 67 million unique visitors in April, 18 million of which came from mobile devices. The blogging platform hosts over 108 million blogs and 50 billion posts.

Source: AllThingsD, via Mashable

Image source: Softonic.com

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