Yahoo just bought Tumblr for $1.1 billion: Report
Say hello to Yumblr!
Aging online portal Yahoo! is set to buy the hugely popular blogging platform Tumblr after the $1.1 billion deal was cleared by Yahoo's board Sunday, according to All Things D, the tech blog of The Wall Street Journal.
The all-cash deal, which has been speculated about since last week, is the largest tech acquisition since Facebook bought Instagram in 2012.
Tumblr founder David Karp is set to get a huge cash windfall, and will stay on at Yahoo! as head of Tumblr for at least four years, All Things D reported.
Yahoo! is expected to announce the deal at a news conference Monday.
Out East Show: Westhampton Beach Brew & Grille, Hallockville Museum Farm Bees, North Fork Foodie Tour, Southampton Animal Shelter Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
Out East Show: Westhampton Beach Brew & Grille, Hallockville Museum Farm Bees, North Fork Foodie Tour, Southampton Animal Shelter Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
