English | دری

Yahoo to buy Tumblr for USD 1.1bn

in International Business

Yahoo to buy Tumblr for USD 1.1bn

yahoooYahoo seems to be getting back in the game after being eclipsed by Google for the past few years.

Yahoo’s board has approved a deal to buy New York based blogging service Tumblr for USD 1.1bn.

It will be CEO Marissa Mayer’s largest deal since taking the helm of Yahoo in July 2012.

A $1.1bn price tag would represent a significant premium on Tumblr’s $800m valuation when it last raised money from private investors.

Tumblr combines elements of blogging with social networking, and its simple design has attracted millions of users since its launch.

According to its homepage, it now hosts 108 million blogs, with a total of 50.7 billion posts.

It also has a significant presence on mobile devices.

Whether this move will really get Yahoo back in the game, we yet have to see that.

Let’s recall… News Corporation bought the social networking website MySpace. MySpace was eventually sold for a fraction of the price.


Tags assigned to this article:
Marissa MayerTumblrYahoo

Related Articles

Apple, Samsung return to court to review the patent verdict

Apple and Samsung return to a San Jose, California court to reconsider the jury’s decision that awarded Apple USD 1.05bn

Japan wants to become a part of the TPP free trade talks

Japan wants to join the talks on the Trans-Pacific Partnership (TPP) with the hope it would help revive the Japanese

Iata almost doubles loss forecast for European airlines

The International Air Transport Association (Iata) has almost doubled its forecast for losses at European airlines to $1.1bn (£706m) for

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.