Yahoo Is Buying Tumblr
The Yahoo board has approved a massive $1.1 billion all-cash deal to buy Tumblr.
Sources close to the board said the deal was a foregone conclusion and was an unanimous vote by the Silicon Valley Internet giant.
The deal will be announced Monday morning, said numerous sources.
This is undoubtedly a better purchase, strategically, than Yahoo’s Summly acquisition. That’s not to say I follow the logic of the move entirely, because I can’t concisely pinpoint what Mayer’s vision for Yahoo is yet. At the moment, Yahoo’s purchases seem as slap-dash as AOL’s.