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Yahoo to buy Tumblr for $1.1 billion

Yahoo to buy Tumblr for $1.1 billion

You can’t no longer say that Yahoo lacks a presence in social media and on mobile devices.

Yahoo has agreed to acquire Tumblr for $1.1 billion — and end the stigma of being shut out on the two crucial growth areas.

The Wall Street Journal’s website noted: 

“Tumblr, founded in 2007, fast built a following by making it easy for people to post blogs and photos, follow other people on Tumblr and receive updates via a feed. The website’s simple design has lowered the bar for online publishing and effectively merged blogging with social media. 

By acquiring Tumblr, Yahoo would instantly gain a social-media site that has become a hub of communication and blogging for millions of people, but one that generates little revenue.”

The move follows on the heels of much smaller, targeted acquisitions by Yahoo in recent months. It underlines Yahoo’s strong desire to be a prominent player in the two most prominent growth areas in tech, social media and mobile instruments.

Tumblr has quickly become a major tech player. In March, the blogging site recorded roughly 117 million unique users around the world, an increase from some 58 million a year before, according to comScore. On smartphones, Tumblr had almost 12 million unique visitors, up from about four million a year earlier, the Journal pointed out, quoting comScore data

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