Yahoo agreed to buy the blogging service Tumblr for around $1.1 billion in cash, reports The New York Times. If the deal is approved, it would be the biggest yet under the tenure of new Yahoo CEO Marissa Mayer and a major move into social media for the Internet company. (It would also top Facebook’s acquisition of Instagram for $1 billion last year.) Founded in 2007, Tumblr has a young, active user base, with over 108 million blogs, that Yahoo will likely want to tap into.
Yahoo plans to buy Tumblr for $1.1 billion
- EW's 2014 Summer Movie Awards
- 'Falling Skies' boss answers burning Q's about season 4 finale
- 'Big Brother'; 'Masters of Sex'; 'Outlander'; 'Doctor Who': TV recaps
- 14 worst jobs, as seen at the movies
- 20 best (and 10 worst) movie theme songs
- 'Downton Abbey' trailer: Servants are people too? 'Preferably only on their days off'
- 'Arrow' teases Oliver and Felicity getting close
- 'Doctor Who' and the joys of sadness