Its Official! Yahoo has now confirmed the purchase of Tumblr social blogging platform for $1.1 Billion. Yahoo has pledged that Tumblr will remain an independent entity with Founder and CEO David Karp remaining at the helm as the CEO of the company under Yahoo.
Last week when news began to float regarding a possible acquisition of Tumblr by Yahoo!, people took to blogs and social networking sites to voice their disagreement to the deal. However David Karp came out to calm users and said that they were not going purple:
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.
This is not just a simple acquisition, both Yahoo and Tumblr are to gain from this buyout. Tumblr will be able to use resources available at Yahoo! to grow at even a more raid rate, while Yahoo! will benefit from the audience Tumblr brings in, which will be about 50% more than its current daily visitors, taking its monthly toll to about one billion visits. Furthermore, Tumblr feeds will be integrated into Yahoo’s own search efforts, and media properties which will provide greater reach and accessibility to the social blogging platform.