The word: Yahoo acquiring Tumblr
May 20, 2013
Nearly a year after her hiring, Yahoo chief executive officer Marissa Meyer is ready to make her first major acquisition, and it’s an interesting one.
Yahoo has put in a $1.1 billion bid for Tumblr, a blogging site, in a deal that’s expected to be announced today. It was first reported by AllThingsD.
Tumblr has 117 million users, and it would help give Yahoo the foot in social media that it craves to stay relevant long after portals became passé.
According to comScore, Tumblr had 37 million visitors in April, about the same as another social media site, LinkedIn. Its users skew young, something that Yahoo likes.
Tumblr only added advertising last year, yet another social media site that’s been slow to monetize its great user appeal. But certainly that’s an area where Yahoo’s established sales force could help.
Tumblr’s growing mobile user base (12 million so far) also fits in with Mayer’s big push into mobile media, which she has said will be Yahoo’s focus going forward.
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