Yahoo! Inc has announced today that they are to acquire the popular social blogging platform Tumblr for $1.1 Billion (£725m; 857m euros) in cash.
The official announcement was made on the main Yahoo! News page, as well as an official tweet from Yahoo! CEO Marissa Meyer. In the official announcement for the take over, Marissa Meyer has stated that they ‘Promise not to screw it up‘ which is aimed at any current Tumblr account holders who may have concerns as to the future of Tumblr. However, from what it says in the takeover announcement, the takeover shouldn’t affect how Tumblr is operated currently. Let’s hope that they hold true to this.
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.
— marissamayer (@marissamayer) May 20, 2013
Tumblr have also made an announcement post for their users regarding the acquisition by Yahoo! Inc
Before touching on how awesome this is, let me try to allay any concerns: We’re not turning purple. 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.