Yahoo’s $1.1 billion acquisition price of Tumblr is hefty
The search engine Yahoo has acquired social media blog Tumblr for $1.1 billion. Many see this price a bit hefty for a company like Yahoo that has been in shadows for a bit of time But Yahoo CEO Marissa Mayer says that this acquisition could be a game changer. “Our (mergers and acquisition) was around acquiring talent. This is as much strategic, enhancing growth and getting amazing content.” Marissa said in a press conference last Monday.
This deal is to make the 26 year old founder and CEO of Tumblr David Karp, a multimillionaire.