Yahoo Purchases Blogging Site Tumblr For $1.1 Billion
“We promise not to screw it up”, Yahoo CEO Marissa Mayer blogged today from newly acquired Tumblr today. Yahoo purchased the blogging website for $1.1 Billion. Rumors began to circulate last week about the purchase.
Mayers said that Tumblrs current CEO and founder David Karp will remain in place. Yahoo plans on keeping Tumblr a separate company and brand.

