Yahoo! (YHOO) Closes $1.1B Tumblr Acquisition

Yahoo! Inc. (NASDAQ: YHOO) today announced it has completed its acquisition of Tumblr.

Tumblr is one of the fastest-growing media networks in the world. Its tremendous popularity and engagement among creators, curators and audiences of all ages brings a significant new community of users to the Yahoo! network. The combination of Tumblr and Yahoo! is expected to grow Yahoo!'s audience to more than one billion monthly visitors.

The deal offers unique opportunities for both companies. Tumblr can deploy Yahoo!'s personalization technology and search infrastructure to help its users discover creators, bloggers, and content they'll love. With more than 50 billion blog posts (and 75 million more arriving each day), Tumblr can bring complementary content to Yahoo!'s media network and search experiences. Yahoo! will support Tumblr's efforts to create advertising opportunities that are seamless and enhance the user experience.

Tumblr will be independently operated, and the product, service and brand will continue to be defined and developed separately by the Tumblr team. David Karp will remain CEO.

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