Yahoo to Buy Tumblr for $1.1B
Board approves cash deal in 'foregone conclusion'
By Polly Davis Doig, Newser Staff
Posted May 19, 2013 11:50 AM CDT
Tumblr would be the latest feather in Yahoo CEO Marissa Mayer's cap.   (AP Photo/NBC Peter Kramer/NBC/NBC NewsWire)

(Newser) – The rumors were apparently pretty accurate: Yahoo will indeed acquire Tumblr, and its board has approved a $1.1 billion cash deal for the blogging site. The board met today and unanimously OKed the deal, in what AllThingsD's Kara Swisher reports was "a foregone conclusion." It's the biggest acquisition of Yahoo CEO Marissa Mayer's 10 months at the helm, adds the AP.

More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
Yahoo to Buy Tumblr for $1.1B is...
6%
29%
37%
14%
3%
11%
Show results without voting
You Might Like
Comments
Showing 3 of 10 comments
user99
May 20, 2013 12:22 PM CDT
The world's largest deal involving two irrelevant companies.
Ferd66
May 20, 2013 11:50 AM CDT
Mayer is a fox. I would sharpen pencils for her any day.
InferiorToYou
May 19, 2013 3:34 PM CDT
Tumblr had $13 million in revenue in 2012.