Yahoo announces deal to purchase Tumblr - WRBL

Yahoo announces deal to purchase Tumblr

Yahoo announces deal to purchase Tumblr

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It's official, Yahoo is buying blogging site Tumblr.

Yahoo CEO Marissa Mayer announced the one-point-one billion dollar deal Monday in New York following days of related rumors.

Mayer also announced that Yahoo will have a new office in Times Square.

The deal is expected to help Yahoo tap into tumblr's younger, active online user base.

Yahoo said that Tumblr will be independently operated as a separate business, with David Karp staying on as Tumblr's CEO.

The blog site has 3-hundred million monthly visitors and 120-thousand daily sign-ups, with roughly 9-hundred posts per second.

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