Press Esc to close
Monday 26 June 2017
News updated at 3:15 PM IST

Yahoo's board approves $1.1 bln Tumblr acquisition

SAN FRANCISCO, May 20, 2013 , (Reuters) - 14:41 IST
Yahoo Inc's board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash, the Wall Street Journal cited people familiar with the matter as saying on Sunday.

Such an acquisition would be Marissa Mayer's largest deal since taking the helm of the once-iconic Internet company in July 2012. Yahoo is keen on fast-growing Tumblr because its younger user base would bolster the older website's "cool factor," the technology blog AllThingsD cited the sources as saying.

Mayer, who spent 13 years at Google Inc, is trying to revitalize a former Internet powerhouse that in recent years has struggled with declining business. On its home page, Tumblr says it hosts 108 million blogs, with 50.7 billion posts between them.

Yahoo declined to comment, while Tumblr did not respond to requests for comment.

The deal comes after a recent failed attempt to buy a controlling stake in French video site Dailymotion, owned by France Tlcom SA. Tumblr, one of the more successful Internet start-ups out of New York, has only just begun earning revenue through advertising. On its home page, Tumblr says it hosts 108 million blogs, with 50.7 billion posts between them.

Yahoo has invited press to an event in Manhattan on Monday at which it promised to "share something special," without elaborating.

Go to Top

Photo Gallery
Prime Minister Narendra Modi being welcomed, on his arrival at Joint Base Andrews, Washington...

Prime Minister Narendra Modi being welcomed, on his arrival at Joint Base Andrews, Washington...

Senior CRPF and police officers carrying the coffin of SI/GD Sahab Shukla after wreath laying...

Senior CRPF and police officers carrying the coffin of SI/GD Sahab Shukla after wreath laying...

Senior BJP MLA Ghanshyam Tiwari stages 'satyagraha' against Rajasthan Chief Minister Vasundhara...

Senior BJP MLA Ghanshyam Tiwari stages 'satyagraha' against Rajasthan Chief Minister Vasundhara...

Hindu devotees pull the 'Rath' or the chariot of Lord Jagannath, during the annual Rath Yatra, or...

Hindu devotees pull the 'Rath' or the chariot of Lord Jagannath, during the annual Rath Yatra, or...

Acclaimed Odissi dancer Dona Ganguly's troupe performs during 46th ISKCON Rath Yatra of Lord...

Acclaimed Odissi dancer Dona Ganguly's troupe performs during 46th ISKCON Rath Yatra of Lord...

Switzerland's Roger Federer celebrates his victory in the final match against Germany's Alexander...

Switzerland's Roger Federer celebrates his victory in the final match against Germany's Alexander...

French Air Force Patrouille de France air demonstration teams take part in flying display during...

French Air Force Patrouille de France air demonstration teams take part in flying display during...

Penitents and costaleros of the Nuestro Padre Jesus Nazareno brotherhood carry a float bearing...

Penitents and costaleros of the Nuestro Padre Jesus Nazareno brotherhood carry a float bearing...

Over 10,000 Chinese yoga enthusiasts in Wuxi, a city near Shanghai in eastern China, took part in...

Over 10,000 Chinese yoga enthusiasts in Wuxi, a city near Shanghai in eastern China, took part in...

A student band dressed as Star Wars storm troopers hold their instruments during the walk...

A student band dressed as Star Wars storm troopers hold their instruments during the walk...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.