INQUIRER.net: Yahoo! confirms Tumblr deal for $1.1B

INQUIRER.net Philippine News for Filipinos

Yahoo! confirms Tumblr deal for $1.1B May 20th 2013, 23:07 NEW YORK—Yahoo! announced Monday it would acquire blogging platform Tumblr for $1.1 billion, saying the two companies "share a vision to make the Internet the ultimate creative canvas."   The two firms confirmed weekend reports of the tie-up, in a deal which helps the struggling Internet pioneer connect with Tumblr's youthful users.   The companies said the deal is worth $1.1 billion, "substantially all of which is payable in cash."   The deal is Yahoo! chief executive Marissa Mayer's boldest move since she left Google 10 months ago to lead Yahoo's latest comeback attempt. It marks Yahoo's most expensive acquisition since the Sunnyvale, California, ... Keep on reading: Yahoo! confirms Tumblr deal for $1.1B Media files: yahoo-tumblr1.jpg (image/jpeg)

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