Yahoo just bought Tumblr for $1.1 billion.
Yahoo CEO Marissa Mayer explained her move in a Tumblr blog post.
It reads:
Tumblr. + Yahoo! = !!
I’m delighted to announce that we’ve reached an agreement to acquire Tumblr!
We promise not to screw it up. 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.
Tumblr has built an amazing place to
follow the world’s creators. From art to architecture, fashion to food,
Tumblr hosts 105 million different blogs. With more than 300 million
monthly unique visitors and 120,000 signups every day, Tumblr is one of
thefastest-growing media networks in the world. Tumblr sees 900 posts
per second (!) and 24 billion minutes spent onsite each month. On
mobile, more than half of Tumblr’s users are using the mobile app, and
those users do an average of 7 sessions per day.
Tumblr’s tremendous
popularity and engagement among creators, curators and audiences of all
ages brings a significant new community of users to the Yahoo! network.
The combination of Tumblr+Yahoo! could grow Yahoo!’s audience by 50% to
more than a billion monthly visitors, and could grow traffic by
approximately 20%.
In terms of working together, Tumblr can
deploy Yahoo!’s personalization technology and search infrastructure to
help its users discover creators, bloggers, and content they’ll love.
In turn, Tumblr brings 50 billion blog posts (and 75 million more
arriving each day) to Yahoo!’s media network and search experiences.
The two companies will also work together to create advertising
opportunities that are seamless and enhance user experience.
As I’ve said before, companies are all
about people. Getting to know the Tumblr team has been really amazing.
I’ve long held the view that in all things art and design, you can feel
the spirit and demeanor of those who create them. That’s why it was no
surprise to me that David Karp is one of the nicest, most empathetic
people I’ve ever met. He’s also one of the most perceptive, capable
entrepreneurs I’ve worked with. His respect for Tumblr’s community of
creators is awesome, and I’m absolutely delighted to have him and his
entire team join Yahoo!.
Both Tumblr and Yahoo! share a vision to
make the Internet the ultimate creative canvas by focusing on users,
design — and building experiences that delight and inspire the world
every day.
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