$1,1 billion or 500 billion FCFA. Yahoo‘s thought behind its biggest acquisition since Marissa MAYER‘s arrival, is to rejuvenate and make the brand “cool” all the while increasing traffic by 20%.
“Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business. David KARP will remain CEO. The product, service and brand will continue to be defined and developed separately with the same Tumblr irreverence, wit, and commitment to empower creators,” declared Yahoo‘s press release.
Though Yahoo hasn’t had a “happy” history with respect to past acquisitions, we can hope that such an investment will not become the site’s next flop!