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Yahoo Acquires Tumblr for $1.1 Billion

Photograph by Getty Images

The rumors have been swirling, but it's finally official. Yahoo has acquired blogging site Tumblr in a whopping $1.1 billion deal, the Internet giant announced on Monday, May 20.

“On many levels, Tumblr and Yahoo couldn’t be more different, but, at the same time, they couldn’t be more complementary,” Yahoo CEO Marissa Mayer said in a statement.

Tumblr, the blogging platform that launched in 2007, is home to roughly 100 million blogs and will, as Mayer hopes, give Yahoo a younger edge, writes the Washington Post.

And while the deal is huge, Mayer said in the release that Tumblr's operations will essentially stay the same and that the company will be independently operated.

Tumblr founder Dave Karp, who's a mere 26 years old, wrote on the company blog that he is "elated" with the acquisition. And to settle those who are a little unsure of the partnership, he also had this to say:

“Our headquarters isn’t moving. 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.”

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