Tuesday, May 21, 2013
Yahoo buys Tumblr for $1.1billion
Tumblr CEO David Karp
Wow! see how BILLION dollar deal makes 26-year-old America's next tech tycoon: High school drop-out CEO Tumblr( David Karp) sells it to Marissa Mayer's Yahoo!
Is Tumblr that profitable for yahoo to buy it this high? Hell no i don't think so. Yahoo! CEO Marissa Mayer's bold move to buy online blogging forum Tumblr for $1.1 billion was announced on Monday as she tries to rejuvenate an Internet icon that had fallen behind the times.The deal is Yahoo!'s most expensive acquisition since the California company bought online search engine Overture a decade ago for $1.3 billion in cash and stock.Yahoo'!s board of directors agreed on Sunday to buy the wildly popular blogging platform from the 26-year-old founder David Karp.The deal for Tumblr, which boasts 100million users and 90million posts per day, was struck for $1.1billion cash.