It's Official: Yahoo And Tumblr To Merge. Here Are The Dirty Details
Tumblr, the microblogging website with months left in its money reserves and a fairly sizable suitor, has accepted Yahoo's $1.1 billion offer.
Here are the details from this morning's press conference:
Yahoo will acquire Tumblr for $1.1 billion, all in cash. The deal will finish in the second half of 2013.
Control of Tumblr
Tumblr's founder David Karp, 26, will remain as Tumblr's CEO, and is now worth an estimated $220 million, according to The Guardian. Karp will report to Mayer and the brands won't co-mingle.
Additionally, all of Tumblr's current employees will remain. Yahoo will help Tumblr hire more engineers and, yes, ad sales representatives.
What Yahoo Gets Out of The Deal
Yahoo will, if everything goes according to plan, get a noticeable boost in revenue next year, and increased search traffic from Tumblr users. Yahoo CEO Marissa Mayer said she believes the deal will send Yahoo over the 1 billion user mark.
Mayer also said Yahoo will feature Tumblr blogs on its media properties.
Ads on Tumblr
Yahoo will be selling ads on Tumblr, specifically the site's dashbord, somewhere down the line. Tumblr bloggers, too, will be given the opportunity to sell ads on their websites as well.
Mayer also stated that she doesn't believe Tumblr's pornographic material, of which there is plenty, will be an issue due to the sheer variety of material Tumblr users create.
"We promise not to screw it up," She said. "We will operate Tumblr independently. David Karp will remain CEO. The product roadmap, their team, their wit and irreverence will all remain the same as will their mission to empower creators to make their best work and get it in front of the audience they deserve."
Similarly, Karp and his team made an announcement on Tumblr's official blog, reassuring users that the service won't change.
"Before touching on how awesome this is, let me try to allay any concerns: We're not turning purple," Karp said. "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."
But it appears at least a small portion of Tumblr's users aren't thrilled with the deal: imports from Tumblr to WordPress ticked up from 400 to 600 blog posts an hour to 72,000 according to WordPress founder Matt Mullenweg.
Yahoo May Buy Tumblr, But Will They Keep The Porn?
Yahoo is rumored to be purchasing Tumblr for a hefty $1.1 billion on Monday. But the microblogging site has an adult-oriented problem: there's a lot of Tumblr blogs out there offering porn. If Yahoo acquires Tumblr, will the porn stay?
Yahoo Shutting Down Upcoming, Deals, SMS Alerts And More To Focus On Apps
Yahoo is shutting down several of their services including Upcoming, Deals, SMS Alerts, and some Mail services to focus on Apps.
Yahoo's Board Approves $1.1 Billion Tumblr Buy
Yahoo's board has approved the purchase of Tumblr for a meager $1.1 billion. But Tumblr is having second thoughts; will $1.1 billion be enough?
You Can Get Up to $358 From the Yahoo Data Breach Settlement. Here's How
If you were a Yahoo product user between 2012 to 2016, you’re eligible for a settlement claim from the massive data breach affecting 3 billion users
Yahoo-Verizon $4.5B Deal: CEO Marissa Mayer Resigns; Is It The End Of Yahoo?
Yahoo is now acquired by Verizon as the telecom giant finalized its $4.5 billion acquisition.
MORE IN ITECHPOST
5 Android Weather Apps To Replace Dark Sky
Dark Sky, previously a favorite weather app for both IOS and Android users alike was acquired by Apple in March of this year and since then, it has been discovered that the app is now pulling its support for the Android OS.
CEO Peter Beck’s Apology Has Elon Musk and Other Competitors Support After Launch Failure
After the failure of the 13th attempt to reach orbit with Electron, Rocket Labs CEO Peter Beck has given out a public apology on Twitter. This has led to competitors, which include Elon Musk, to offer their support.
Will 'Grand Theft Auto 6' Have a World That Evolves Like How The World in 'Red Dead Redemption 2' Did?
The evolution of the world throughout the story of 'Red Dead Redemption 2' was something nice to see, but will Rockstar's next game, 'Grand Theft Auto 6' have this sort of world evolution?
The Social Media Influencer with Thousands of Followers But Isn't a Real Person
If you are familiar with Hatsune Miku, a teenage singer with long, turquoise twintails who is Japan's first and official moe anthropomorph, then you must be prepared to meet Japan's first virtual male influencer, Liam Nikuro.