Yahoo! completes Tumblr takeover

Jun 20, 2013
Yahoo! said it has completed a billion-dollar deal taking over the popular blogging platform Tumblr, a move aimed at bringing more youthful users into the company's orbit.

Yahoo! said Thursday it has completed a billion-dollar deal taking over the popular blogging platform Tumblr, a move aimed at bringing more youthful users into the company's orbit.

"We're excited to announce that our deal to acquire Tumblr has closed—it's official!" Yahoo! chief executive Marissa Mayer said.

"As promised, Tumblr will continue to operate as a separate business, led by David Karp as CEO. Their product roadmap, their team and tone will all remain the same, as will their mission to empower creators and curators alike to do what they love best: create."

With the takeover, Yahoo! redesigned its corporate blog, which is integrated in Tumblr.

Mayer has said Tumblr would operate independently but that the groups would "work together to create advertising opportunities."

Yahoo! has been looking at a range of possible acquisitions since Mayer took the helm last year and vowed to revive the company, which has faded in the face of competition from .

Tumblr could be key to Yahoo!'s strategy because of its popularity with younger . A survey this year conducted by the online data group Survata found more popular than among those aged 13 to 25.

Explore further: Why the Sony hack isn't big news in Japan

add to favorites email to friend print save as pdf

Related Stories

Yahoo! vows not to ruin Tumblr after $1.1 bn takeover

May 21, 2013

Marissa Mayer has made her boldest move to date as chief of Yahoo! with the billion-dollar purchase of Tumblr, a popular blogging platform she vowed not to ruin after protests from youthful users.

Yahoo! sets event amid Tumblr talk

May 17, 2013

Yahoo! scheduled a news conference Monday amid reports it was in talks on with the popular blogging platform Tumblr about an acquisition or strategic alliance.

Recommended for you

Why the Sony hack isn't big news in Japan

4 hours ago

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

9 hours ago

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

10 hours ago

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

23 hours ago

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

Clooney slams skittish Hollywood after Sony hack

Dec 19, 2014

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.