Yahoo buys Tumblr for $1.1 billion

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Hoping to restore its youth with the acquisition of the popular blogging platform, Yahoo has officially forked over $1.1 billion for Tumblr, which is going strong with over 50 million blog posts from 108 million blogs.

/READ MORE// Microsoft acquires LinkedIn for $26.2 billion

Yahoo CEO Marissa Mayer has driven up the company’s worth while in power, and she’s hoping that this movie will continued the streak. The end goal is to hang onto Tumblr’s large and loyal users while implementing advertising. This could be tough as the site has remained mostly ad-free for its six-year tenure, and any advertising might be a hard pill to swallow for avid Tumblr users.

However, if all goes according to plan, Tumblr will be the key to snagging more mobile advertisers for Yahoo. It’s a tough feat, but it’s one that will put them ahead of the game as advertising on phones and tablets will only continue growing over the next few years.

Tumblr will still be operated as a separate business, which is a lucky break for Tumblr CEO David Karp, who gets to stay right where he is.There are no major changes to Tumblr as of yet but it’s still early in the game. It seems to be business as usual, and there’s no word yet of any further integration (beyond advertising) with the Yahoo platform.

And here some of us were thinking we would finally get a replacement for Yahoo GeoCities…

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