Rumours regarding the acquisition of Tumblr by Yahoo have been whirling in the tech world for quite some time now, but since they were not officially confirmed it was believed that the two companies either failed to reach a deal or the two parties never talked. However, on Monday, May 20th Marissa Mayer, the CEO of Yahoo, finally put the mystery to rest as she officially made it known that her company had acquired Tumblr for a cash amount of $1.1 billion which proved all previous rumours regarding the deal true. On this occasion, Marissa asserted that, “we promise not to screw it up.”
Here are the original extracts from the official announcement:
“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.
Tumblr has built an amazing place to follow the world’s creators. From art to architecture, fashion to food, Tumblr hosts 105 million different blogs. With more than 300 million monthly unique visitors and 120,000 signups every day, Tumblr is one of the fastest-growing media networks in the world. Tumblr sees 900 posts per second (!) and 24 billion minutes spent onsite each month. On mobile, more than half of Tumblr’s users are using the mobile app, and those users do an average of 7 sessions per day. Tumblr’s tremendous popularity and engagement among creators, curators and audiences of all ages brings a significant new community of users to the Yahoo! network. The combination of Tumblr+Yahoo! could grow Yahoo!’s audience by 50% to more than a billion monthly visitors, and could grow traffic by approximately 20%.”
On the other hand, the CEO of Tumblr, David Karp was equally thrilled about the acquisition, as it can be judge from his enthusiastic message given below:
“Yahoo is the original Internet company, and Marissa and her team share our dream to make the Internet the ultimate creative canvas. I couldn’t be more excited to have her help. We also share a vision for Tumblr’s business that doesn’t compromise the community and product we love. Plus both our logos end with punctuation!
As always, everything that Tumblr is, we owe to this unbelievable community. We won’t let you down.
F*ck yeah,
David”
Source: iPhoneinCanada, Yahoo
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