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Yahoo! Agrees To Buy Tumblr For 1.1-Billion
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Story By: Larry Stine

 

 

 
 
 
   
   
  Originally Published on: 5/20/2013

  Yahoo! has agreed to buy the bloggin site Tumblr for $1.1-billion in cash.   This marks the biggest deal for Yahoo! CEO Marissa Mayer since taking over last summer.   Mayer is trying to revamp the company and tap into a young, active online user base.     Tumblr was started six years ago by high school dropout David Karp.    Under the deal, the 26-year-old Karp will remain with the company.    It's unclear if Yahoo will keep all of Tumblr's 175 employees.   Mayer is trying to revamp the company and tap into a young, active online user base.     Tumblr was started six years ago by high school dropout David Karp.    Under the deal, the 26-year-old Karp will remain with the company.    It's unclear if Yahoo will keep all of Tumblr's 175 employees.

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