Yahoo agrees to purchase Tumblr

May 19, 2013, 5:39 PM EDT
US-INTERNET-COMAPNY-YAHOO-TUMBLR
AFP/ Getty/ Karen Bleier

Yahoo's board of directors approved a $1.1 billion all-cash acquisition of Tumblr, the social blogging platform. The companies could announce a deal as soon as Monday. A rumor circulated last week about the merger. Tumblr will be Yahoo's first major acquisition since Marissa Mayer was appointed CEO. 

YOU MIGHT ALSO LIKE