Yahoo to buy blog maker Tumblr for $1.1 billion: Report
The
board of Yahoo! has agreed to a deal to purchase the popular blogging platform
Tumblr for $1.1 billion, the Wall Street Journal reported Sunday. Yahoo! did
not immediately return AFP's calls for confirmation, but CEO Marissa Mayer has
scheduled a news conference in New York Monday at which the company said it
will unveil 'something special.'
Reports last week
said Yahoo! is eyeing the move to attract more users from the key 18- to
24-year-old age bracket, and that the Internet pioneer sees the fast-growing
Tumblr as one of the 'coolest' sites with young Internet users. Yahoo! has been
looking at a range of acquisitions since Mayer took over as chief executive
last year and vowed to revive the company, which has faded in the face of
competition from Google. Founded in 2007 and headquartered in New York, Tumblr
says it has more than 107 million blogs, 50 billion postings in 12 languages
and 175 employees. The website ranking site Alexa lists Tumblr as number 32 in
terms of global popularity. If the acquisition takes place, it would be the
biggest for Yahoo! under Mayer and come in the wake of other pricey deals for
startups, such as Facebook's acquisition of the photo app Instagram for stock
worth $1 billion at the time.
Subscribe to:
Post Comments
(
Atom
)
No comments :
Post a Comment