On Monday, Yahoo! and Tumblr announced that they have reached an agreement for Yahoo! to acquire social blogging platform, Tumblr which goes all its $1.1 billion all-cash.
As mentioned on http://yahoo.tumblr.com/ by Marissa Mayer, CEO of Yahoo! they have met an agreement to acquire Tumblr!. The deal announced Monday represents Mayer's boldest move yet since she left Google 10 months ago to lead Yahoo's latest comeback attempt.
“I’m delighted to announce that we’ve reached an agreement to acquire Tumblr! We promise not to screw it up. Tumblr is incredibly special and has a great thing going. We will operate Tumblr independently. David Karp will remain CEO. The product roadmap, their team, their wit and irreverence will all remain the same as will their mission to empower creators to make their best work and get it in front of the audience they deserve. Yahoo! will help Tumblr get even better, faster.”