Today, Yahoo! Inc., the multinational internet corporation and Tumblr, one of the most fast growing social media network announced that they reached an agreement for Yahoo! to acquire Tumblr.
The total amount for this acquisition is approximate 1.1 billion which all pay in cash. Per some of the odd press release that we read today, Yahoo! promised they will not “screw up” the microblogging service. Sounds strange huh? See the words,
“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”.
In case you are not familiar with Tumblr, a sky rocking social media network. Here is a little story about it, like thousands microblogging and social networking website in the world, Tumblr founded and operated by a young entrepreneur, David Karp in 2007. According to recent research, Trumblr has more than 300 million monthly visits, 120,000 daily signups, with 900 posts seen per second and 24 billion total minutes spent on the site each month. With this decent numbers of traffic, Yahoo is expecting a 50% grow in audience to more than a billion monthly visits.
Marissa Mayer, CEO of Yahoo! made her post on twitter at 5:12am on May 20, 2013
and David Karp, CEO of Tumblr also made an announced on his blog about this acquisition.
“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”
We found quite a number of people showing their disappointment about this acquisition from different social media platform but hopefully this acquisition can bring both parties positive and unique opportunities. Until that moment, stay tune!
Feel free to share your opinion about this acquisition in the comments.