Yahoo’s board has approved a deal to buy New York-based blogging service Tumblr for $1.1bn (£725m; 857m euros), US media reports say. The acquisition is expected to be announced on Monday. The deal was a “foregone conclusion” and was a unanimous vote by the board, tech blog AllThingsD reported, citing sources close to the matter. If confirmed, it will be CEO Marissa Mayer’s largest deal since taking the helm of Yahoo in July 2012 Analysts say that by acquiring Tumblr, Yahoo would gain a larger social media presence and enhance its ability to attract younger audiences. It will also help Tumblr generate more revenue from advertisements. On its home page, Tumblr says it hosts 108 million blogs, with 50.7 billion posts between them. Under the terms of the acquisition, Tumblr would continue to operate as an independent business, the Wall Street Journal said, citing unnamed sources familiar with the situation. (via BBC News - Yahoo ‘to buy Tumblr for $1.1bn’)
We sure hope Yahoo’s acquisition of Tumblr doesn’t fundamentally change a platform we’ve come to love.
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Building early and often is key in Professor Jim Patell’s Design for Extreme Affordability course. In the class, Stanford University students learn how prototyping increases the occurrence of great ideas as they design low-cost products that solve tough problems in the developing world. Learn more about Professor Patell and his passion for innovation on CNN’s “The Next List” this Saturday at 11:30am PT. http://stnfd.biz/l7hgG