Saturday, May 18, 2013

Yahoo Board to Mull $1.1 Billion Tumblr Purchase this Sunday

Yahoo CEO Marissa Mayer

The days of Tumbler with its present owners seem to be coming to an end as Yahoo Board is meeting this Sunday to mull over a $1.1 Billion Tumblr Purchase.

However, AllThingsD cautions that the deal could fall apart, but was on track as of Friday evening. If the board votes in favor of the deal, it could be announced Monday, a day in which Yahoo has already scheduled a major press conference.

As reported by Mashable quoting a report, Yahoo CEO Marissa Mayer has been intensely interested in Tumblr for the past six weeks and feels that the microblogging platform's young-skewing audience and mobile savvy are just what Yahoo needs to reinvent itself.

Sources tell ATD that Tumblr CEO would continue to operate it as an autonomous, separate entity. Karp would be locked into a four-year deal that would reward him based on the business's performance.

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