May 20, 2013

Yahoo Is Planning to Buy Tumblr for $1.1 Billion

The board of Yahoo, the faded Web pioneer, agreed on Sunday to buy the popular blogging service Tumblr for about $1.1 billion in cash, people with direct knowledge of the matter said, a signal of how the company plans to reposition itself as the technology industry makes a headlong rush into social media.

The announcement doesn't surprise me really as I don't use either services. But if this is a way for Yahoo to gain back some userbase and revenue then by all means go for it. Seeing that Yahoo is still alive and around means it is still capable of holding out against the big guys until the very end.

[via NY Times]