5/20/2013

Yahoo will purchase Tumblr for $1.1 billion

Filed under: — Aviran Mordo

All of the Tumblr acquisition rumors this week appear to be true. Yahoo’s board of directors approved a $1.1 billion purchase of the microblogging site this week. The decision comes on the heels of Yahoo scheduling a press event for Monday in New York (Tumblr’s home base).

WSJ cites “people familiar with the matter” but their story is consistent with earlier reports. On Thursday, Adweek spoke with “multiple sources familiar with the talks” who pointed to the deal nearly being complete. And earlier that day, AllThingsD reported Yahoo was looking into such an alliance to become “cool” again “according to sources close to the situation.”

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