Yahoo! Inc. (NASDAQ:YHOO) has confirmed in a blog post that they are acquiring Tumblr. As we reported earlier, the deal is worth approximately $1.1 billion, mostly in cash. Tumblr will operate independently with David Karp as the CEO. The deal is expected to close towards the second half of the year.
Yahoo! Inc. (NASDAQ:YHOO) is going to meet today to discuss the possibility of acquiring blogging service Tumblr for $1.1 billion, according to AllThingsD. Tumblr currently hosts 108.2 million blogs and 50.8 billion posts. Many of these blog posts contain inappropriate content so many Internet analysts are questioning whether this acquisition makes sense for a media company that has a sterling reputation. The deal is not expected to be entirely in cash because Yahoo!’s stock price has been on the rise lately, largely due to the hiring of Marissa Mayer as CEO.
Tumblr, one of the largest blogging platforms in the world, has hit over 100 million blogs. Around 44.6 billion blog posts have been created using Tumblr. Last year Tumblr became one of the top 10 most visited websites in the world. About 80.2 million blog posts are being created on Tumblr per day. Founded by David Karp around 6 years ago, Tumblr now has about 167 employees and is available in 12 languages. This month, Tumblr announced plans to launch mobile ads on iOS and Android in order to hit their first annual profit.
The search for the word “Tumblr” has passed searches for the word “blog” on Google. Tumblr beat the word blog in December 2012 for the first time. This chart simply shows how popular Tumblr has become since the company launched in 2007. Tumblr is worth around $800 million on paper and Tumblr founder David Karp is going to buy a $1.6 million loft soon. Outbound social media director Laura Olin sent out the following tweet:
David Karp is the 26-year-old founder of the blogging platform Tumblr. On paper, Tumblr is worth around $800 million. At around 25% equity, Karp is worth over $200 million. However Karp is known for living with very few possessions. Karp has decided to spend $1.6 million to buy a 1,700 sq. ft. loft in Williamsburg, Brooklyn.
Tumblr is a popular blogging service that has raised $85 million in a new round of funding. Tumblr is best known for simple blogging tools to post photos, videos, songs, etc. The investment in this round was led by Greylock Partners. Insight Venture Partners, the Chernin Group, Richard Branson, Spark Capital, Union Square Ventures, and Sequoia Capital also participated in this round.
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Tumblr and 4Chan are in the middle of a DDoS attack war. Users at 4Chan and Tumblr have been attacking each other’s servers. 4Chan was down today and it is a possibility that Tumblr decided to push up their attack time to earlier. Tumblr founder David Karp said “As always, we’re aggressively suspending any accounts encouraging DoS attacks or other illegal behavior.” The conflict between the two took place when a 4chan user accused Tumblr users of stealing meme ideas from their forum boards. Check out the DDoS attack war graphics below:
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Tumblr is growing at a rapid pace. They hit 6 million users and just hit about 1.5 billion pageviews per month (Quantcast). About a year ago, Tumblr saw about 255 million pageviews. In November of last year, it was up to 420 million pageviews.
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