Yahoo! Closes Tumblr Acquisition

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

It's a subject fitting for a series of micro-blog entries. Yahoo! (NASDAQ: YHOO  ) announced it has finalized its acquisition of leading micro-blog destination Tumblr. Although now completely under the Internet giant's very large wing, the site will remain independently operated and keep its branding, claims Yahoo! Its CEO, David Karp, will stay in his post.

In the press release announcing the news, Yahoo! quoted Karp hinting at future expansion. He said the parent company's "support and belief in our vision gives us an opportunity now to be the most ambitious we've ever been."

Tumblr, started in 2006, boasts around 300 million unique visitors, according to Yahoo! data. The sprawling Internet company signed a deal to acquire it for roughly $1.1 billion last month. Yahoo! CEO Marissa Mayer, in a Tumblr post of her own, trumpeting the acquisition, said of the new asset that "we promise not to screw it up."

Read/Post Comments (0) | Recommend This Article (6)

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2501998, ~/Articles/ArticleHandler.aspx, 10/1/2016 6:39:54 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 21 hours ago Sponsored by:
DOW 18,308.15 164.70 0.91%
S&P 500 2,168.27 17.14 0.80%
NASD 5,312.00 42.85 0.81%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/30/2016 4:00 PM
YHOO $43.10 Up +0.53 +1.25%
Yahoo CAPS Rating: **