Yahoo acquires Tumblr for $1.1 Billion

On May 20, 2013

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Yahoo has officially announced the purchase of Tumblr, this according to official statements released from both Yahoo CEO Marissa Mayer and Tumblr CEO and Founder David Karp.

According to a press release Yahoo oddly promises not to “screw up”:

“Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business. David Karp will remain CEO. The product, service and brand will continue to be defined and developed separately with the same Tumblr irreverence, wit, and commitment to empower creators,”

Tumblr CEO and Founder David Karp wrote on his blog:

“Before touching on how awesome this is, let me try to allay any concerns: We’re not turning purple. Our headquarters isn’t moving. Our team isn’t changing. Our roadmap isn’t changing. And our mission – to empower creators to make their best work and get it in front of the audience they deserve – certainly isn’t changing,”

Yahoo paid more than $1 Billion for Tumblr, and have already moved their corporate blog to Tumblr.