SAN FRANCISCO/NEW YORK (Reuters) - Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a younger generation of users
‘“Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business,” Yahoo said in a statement.
The deal will make Tumblr founder and CEO David Karp, 26, a multimillionaire.’
Internet lesson of the day: read about things before you instinctively freak out. Remember, we are on the internet, its easier than easy to stay informed. Yahoo! has fresh blood at the helm with Marissa Meyer, and since she became CEO they’ve been on the up and up. If anything, yahoo!’s acquisition may prove to make queuing up days and days worth of porn easier and more efficient for ya’ll. relax.