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OFFICIAL: Yahoo! is buying Tumblr for $1.1 billion

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yahoo-tumblr_2565560b.jpgYahoo have officially confirmed that they will be buying hipster blogging platform Tumblr in a a deal worth $1.1 billion.

"We promise not to screw it up," revealed a candid Marissa Mayer, Yahoo! CEO on her own Tumblr.

"Tumblr is incredibly special and has a great thing going. 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. Yahoo! will help Tumblr get even better, faster.

"On many levels Tumblr and Yahoo couldn't be more different, but, at the same time, they couldn't be more complementary," she added.

So who gets what out of this deal? As well as the cash, Tumblr get access to Yahoo's "personalisation technology" and its search infrastructure, while Yahoo gets a whole new wave of folk to advertise to; Tumblr attracts 300 million monthly visitors with users generating 900 posts a second.

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