Yahoo buying Tumblr for $1.1 billion, vows not to screw it u

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      Anonymous
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      Technology News

      A photo illustration shows the applications of Yahoo and Tumblr on the screen of an iPhone in ZagrebBy Alexei Oreskovic and Jennifer Saba SAN FRANCISCO/NEW YORK (Reuters) – Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a younger generation of users and breathe new life into its ailing brand. The deal, announced on Monday, is a bold bet by Yahoo Chief Executive Marissa Mayer to revitalize the company by co-opting a Web property with strong visitor traffic but little revenue. …


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