The rumors can now be laid to rest as Yahoo has officially confirmed their acquisition of popular blogging site Tumblr. Yahoo sealed the deal for $1.1 billion but has reached a joint agreement with Tumblr to maintain it’s own branding and line of development. The deal makes it starkly clear that Tumblr will remain “independently operated as a separate business”.
The press release goes on to say that terms of the arrangement will help ensure that Yahoo doesn’t “screw it up” and pledges to the 300 million monthly visitors that the beloved blogging site will continue to embody Tumblr’s original “irreverence, wit, and commitment to empower creators.”
Yahoo hopes to turn Tumblr into a profitable part of the company. “Tumblr can deploy Yahoo!’s personalization technology and search infrastructure to help its users discover creators, bloggers, and content they’ll love,” Yahoo stated. “In turn, Tumblr brings 50 billion blog posts (and 75 million more arriving each day) to Yahoo!’s media network and search experiences. The two companies will also work together to create advertising opportunities that are seamless and enhance the user experience.”
The acquisition falls in step with Yahoo’s strategy under new CEO Marissa Mayer. Mayer has been with Yahoo for under one year, but has already acquired several small companies in that time.