Well, it's official (almost). Yahoo are about to acquire social blogging site Tumblr for an approved $1.1 billion USD cash deal. The news is expected to be officially announced tomorrow during the NYC media event and will be CEO Marissa Mayer's largest deal since taking the helm of Yahoo in July 2012. The founder of Tumblr - 26-year-old New Yorker David Karp - is expected to stay in his current role as chief executive.
Since they were founded in 2007 Tumblr have grown significantly and now boast over 700 million visitors each month. However, despite this huge audience they have struggled to make money, resisting traditional advertising methods in favour of other techniques which made just $13 million USD in 2012. In fact, staff at Tumblr were apparently told the company only had enough cash to last a few more months in business, but not to worry as they were soon going to be bought out.
No comments:
Post a Comment