Yahoo To Buy Tumblr for $1.1 Billion

Your News Companion by Ben Mathis-Lilley
May 19 2013 1:53 PM

Yahoo To Buy Tumblr for $1.1 Billion

Yahoo CEO Marissa Mayer reportedly started becoming interested in Tumblr a few months ago

Photo by Brad Barket/Getty Images for WIRED

The rumors were true after all. Yahoo’s board has approved a deal to buy blogging service Tumblr for a cool $1.1 billion in cash, according to the Wall Street Journal. The deal that would see Tumblr continue to operate as an independent business could be officially announced as early as Monday. Rumors that Yahoo was circling Tumblr were first reported by All Things D that said the purchase would be a way for the company to become “cool again” and attract the coveted 18-to-24-year-old demographic. Ad Week also reported on the rumors saying the acquisition could be what CEO Marissa Mayer has been looking for “to turn around Yahoo’s momentum.” The move could also help Yahoo make more advertising revenue.

Ever since taking over Yahoo, Mayer has said acquisitions would be a key part of her strategy for the company but so far the deals have mostly involved smaller startups. “If you could pick a company that fits in with what Marissa Mayer has demonstrated in her career — aesthetics software technology and fast-growing — you could not land on a better choice,” a source told All Things D on Thursday. On Friday, Yahoo announced it would hold a press event on Monday in New York, where Tumblr just happens to be based, points out USA Today.

Daniel Politi has been contributing to Slate since 2004 and wrote the "Today's Papers" column from 2006 to 2009. You can follow him on Twitter @dpoliti.



Scalia’s Liberal Streak

The conservative justice’s most brilliant—and surprisingly progressive—moments on the bench.

Colorado Is Ground Zero for the Fight Over Female Voters

There’s a Way to Keep Ex-Cons Out of Prison That Pays for Itself. Why Don’t More States Use It?

The NFL Explains How It Sees “the Role of the Female”

The Music Industry Is Ignoring Some of the Best Black Women Singing R&B


Theo’s Joint and Vanessa’s Whiskey

No sitcom did the “Very Special Episode” as well as The Cosby Show.


The Other Huxtable Effect

Thirty years ago, The Cosby Show gave us one of TV’s great feminists.

Cliff Huxtable Explains the World: Five Lessons From TV’s Greatest Dad

Why Television Needs a New Cosby Show Right Now

  News & Politics
Sept. 18 2014 8:20 PM A Clever Attempt at Explaining Away a Vote Against the Farm Bill
Sept. 18 2014 6:02 PM A Chinese Company Just Announced the Biggest IPO in U.S. History
The Slate Quiz
Sept. 18 2014 11:44 PM Play the Slate News Quiz With Jeopardy! superchampion Ken Jennings.
  Double X
Sept. 18 2014 8:07 PM Crying Rape False rape accusations exist, and they are a serious problem.
  Slate Plus
Behind the Scenes
Sept. 18 2014 1:23 PM “It’s Not Every Day That You Can Beat the World Champion” An exclusive interview with chess grandmaster Fabiano Caruana.
Brow Beat
Sept. 18 2014 4:33 PM The Top 5 Dadsplaining Moments From The Cosby Show
Future Tense
Sept. 18 2014 6:48 PM By 2100 the World's Population Could Be 11 Billion
  Health & Science
Sept. 18 2014 3:35 PM Do People Still Die of Rabies? And how do you know if an animal is rabid?
Sports Nut
Sept. 18 2014 11:42 AM Grandmaster Clash One of the most amazing feats in chess history just happened, and no one noticed.