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US: Yahoo makes $1.1B move for blogging site Tumblr

By  |  May 20, 2013
US: Yahoo makes $1.1B move for blogging site Tumblr

The Internet erupted last weekend in response to news that Yahoo is rumored to have already approved a deal to buy popular blogging platform Tumblr for a cool $1.1 billion. According to reports, experts are now weighing what the effect might have on Yahoo, which was once at the top of its game before Google and Facebook stepped in. While Yahoo has not confirmed the deal, Monday will see a press conference by Yahoo, which will stream the event live. Tumblr, founded in 2007, currently has 110 million blogs and has received $125 million in investments.

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