Report: Yahoo board approves deal to buy Tumblr for $US1.1bn

Rumours that Yahoo might be in talks to acquire the blogging site emerged last week

Yahoo's board of directors has approved spending $US1.1 billion in cash to buy popular blogging site Tumblr, according to The Wall Street Journal.

The plan is for Tumblr to operate as an independent business, the Journal reported on Sunday, quoting anonymous sources.

Asked via email about the Journal's report, a Yahoo spokeswoman declined to comment. Tumblr didn't immediately respond to a request for comment.

Rumours that Yahoo might be in discussions to buy Tumblr emerged last week, and on Friday Yahoo called for a mystery press event to be held in New York City on Monday afternoon. Tumblr's headquarters are in Manhattan.

"Join us as we share something special," reads the invite, sent to members of the press.

The Journal's All Things D technology news site had reported earlier Friday, citing anonymous sources, that Yahoo might be interested in partnering with, investing in or outright buying Tumblr.

Adweek, in another report also citing unnamed sources, put the value of the deal at $1 billion.

Yahoo CEO Marissa Mayer is expected to be at the New York City event, according to CNBC.

The blogging and social networking site, founded in 2007, has 175 employees and hosts more than 100 million blogs.

Mayer is interested in Tumblr because she believes it can help boost Yahoo's advertising revenue and give Yahoo a bigger presence in the consumer social media market, according to the Journal.

Juan Carlos Perez covers enterprise communication/collaboration suites, operating systems, browsers and general technology breaking news for The IDG News Service. Follow Juan on Twitter at @JuanCPerezIDG.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

5 things every business can do to drive brand loyalty

If you’re in any customer-centric role, you’ll likely be familiar with the Net Promoter Score (NPS) – one of the most popular tools for brands to measure their customer sentiment.

Catherine Anderson

Chief customer officer, Powershop Australia

What the modern gig economy is doing to customer experience

Most marketing theory was established in the context of stable employment relationships. From front-line staff to marketing strategists and brand managers, employees generally enjoyed job security with classic benefits such as superannuation plans, stable income streams, employment rights, training, sabbaticals and long-service leave.

Dr Chris Baumann

Associate professor, Macquarie University

The new data hierarchy

We are all digital lab rats spewing treasure troves of personal data wherever we go.

Gerry Murray

Research director, marketing and sales technology services, IDC

Thank you! That was useful to know.

Belia Adam

Why your best social marketing brand tool could be hiding in plain sight

Read more

Because you are missing the point of the term "disruption"

Sean

Uber for the truckies: How one Aussie startup is disrupting the freight industry

Read more

Absolutely agree with this ... Facebook doesn't care what adds they show. You report an add for fake news/scam and it just remains "open...

Quasi Carbon

Unilever CMO threatens Facebook, Google with digital advertising boycott

Read more

How to create Pinball game in 4 minshttps://youtu.be/S1bsp7del3M

Alex Atmavan

Rethinking gamification in marketing

Read more

True Local - one of the least credible review sites on the entire internet.

MyNameIsStomp

Former Virgin Mobile CMO and CEO joins oOh! as first customer chief

Read more

Latest Podcast

More podcasts

Sign in