Yahoo closes $1.1 billion Tumbler deal: Marissa’s big kill
Sunnyvale, USA, June 21, 2013: In what represents Yahoo CEO Marissa Mayer’s boldest move so far after she left Google to lead Yahoo’s comeback, Yahoo has closed its $1.1 billion acquisition of online blogging forum Tumblr.
This is clearly Yahoo’s most expensive acquisition since the Sunnyvale, Calif., Internet major bought online search engine Overture for $1.3 billion a decade ago.
As per the deal, Tumblr will remain independently operated as a separate business. David Karp will remain CEO
Tumblr was started six-years ago by high school dropout David Karp to become one of the fastest-growing media networks in the world.
With more than 300 million monthly unique visitors and 120,000 signups every day, Tumblr sees 900 posts per second and 24 billion minutes spent on site each month. More than half of Tumblr’s users are using the mobile app and do an average of 7 sessions per day.
Its popularity among creators, curators and audiences of all ages will bring a significant new community of users to the Yahoo! network. Tumblr and Yahoo! together can grow Yahoo!’s audience by 50 percent to more than a billion monthly visitors, and the traffic by 20 percent.
Tumblr can now deploy Yahoo!’s personalization technology and search infrastructure to help its users discover creators, bloggers, and content. On the other hand, Tumblr will brings 50 billion blog posts to Yahoo!’s media network and search experiences.
“Tumblr is redefining creative expression online,” said Yahoo! CEO Marissa Mayer. “On many levels, Tumblr and Yahoo! couldn’t be more different, but, at the same time, they couldn’t be more complementary. Yahoo is the Internet’s original media network. Tumblr is the Internet’s fastest-growing media frenzy. Both companies are homes for brands – established and emerging. And, fundamentally, Tumblr and Yahoo! are both all about users, design, and finding surprise and inspiration amidst the everyday.”
“David’s respect for Tumblr’s community of creators is awesome. I’m absolutely delighted to have him join our team,” added Mayer.
Tumblr CEO David Karp said, “Our team isn’t changing. Our roadmap isn’t changing. And our mission — to empower creators to make their best work and get it in front of the audience they deserve — certainly isn’t changing. But we’re elated to have the support of Yahoo! and their team who share our dream to make the Internet the ultimate creative canvas. Tumblr gets better faster with more resources to draw from.”
© Mouseworld Now News Service