Yahoo is organizing a press event in New York on Monday, May 20th  which will be addressed by CEO Marissa Mayer according to CNBC, the event will be “product-related,”  which is rumoured to be about Yahoo’s Tumblr acquisition.

Tumblr has been in news this week, on Thursday All Things D reported that Yahoo might buy Tumblr for a price close to $1 billion.Then, GigaOm reported that Facebook might put it’s hat in the ring and buy Tumblr at a higher price for itself.  Then, Forbes’s Jef Bercovici said that Microsoft is keen too to get Tumblr .

Tumblr was valued at around $800 million when it last got funding, they were not keen on getting accquired.  Tumblr CEO David Karp had told Forbes last year that he didn’t want to get “absorbed into a behemoth of another company and raided for talent and traffic.” However, he also said that they’d consider acquisitions in which they were able to operate as an independent entity.