Yahoo Announces $1.1B Tumblr Deal With Vow “Not To Screw It Up”

Related: Yahoo Board OKs Deal To Acquire Tumblr — Analysis

SUNNYVALE, Calif. & NEW YORK– Yahoo! Inc. (NASDAQ: YHOO) and Tumblr announced today that they have reached a definitive agreement for Yahoo! to acquire Tumblr.

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. (more…)

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