The deal announced Monday represents Mayer's boldest move yet since she left Google 10 months ago to lead Yahoo's latest comeback attempt. It marks Yahoo's most expensive acquisition since the Sunnyvale, Calif.-based company bought online search engine Overture a decade ago for $1.3 billion in cash and stock.
Yahoo is paying all cash for Tumblr, dipping into some of its remaining stash from a $7.6 billion windfall reaped last year from selling about half of its stake in Chinese Internet company Alibaba Holdings.
Taking over Tumblr will devour about 20% of the $5.4 billion in cash that Yahoo had in its accounts at the end of March.
The company says that "per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business" with founder David Karp, 26, staying on as CEO.
Tumblr, a service started six years by Karp, a high school dropout, now figures to play a pivotal role in Mayer's attempt to reshape Yahoo. To take on the challenge, Mayer ended a highly successful 13-year career at Google, which she helped surpass Yahoo as the Internet's most influential company.
http://www.tundeola.com/2013/05/yahoo-is-buying-online-blogging-forum.html
| Posted: at | |
TRENDING GISTS 
AMVCA 2025: Seven Doors & Lisabi: The Uprising Light Up Nollywood’s Biggest Night (Full Winners)
Kidnap Ring Busted In Anambra: Four Arrested In Daring Night Raid
Ex-AUN Provost, Professor Yusuf Attahir Baba Loses Three Children in Devastating Car Crash
Football Star, Lionel Messi-Marriage Rumours Stir Online Frenzy As Divorce Speculations Grow
El-Rufai & Peter Obi Meet at Cambridge Conference, Sparking Political Speculation Ahead Of 2027 Elections
"How My Mother’s Lover Rap3d Me" — 12 Year Old Victim Narrates Ordeal