Yahoo buying Tumblr for $1.1 billion, vows not to screw it up

The Yahoo logo is shown at the company's headquarters in Sunnyvale(Reuters) – Yahoo Inc said it is acquiring blogging service Tumblr for $ 1.1 billion cash, a bold bet by Chief Executive Marissa Mayer to revitalize the struggling Internet pioneer by co-opting a Web property with strong visitor traffic but little revenue. The deal, which will use about a fifth of Yahoo's $ 5.4 billion in cash and marketable securities, is the largest by far since Mayer took the reins in July seeking to reverse a multi-year decline in Yahoo's business and Web traffic. …



Tech News Headlines – Yahoo! News

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