The worst kept tech secret of last week is true – Microblogging website Tumblr is being acquired by Yahoo. Marissa Mayer announced the deal today morning along with a “promise not to screw it up.” Yohoo! is coughing $1.1 billion for Tumblr, “substantially all of which is payable in cash,” Yahoo said.
Yahoo is not absorbing its acquisition, Tumblr is going to run separately from Yahoo. CEO David Karp will report directly to Mayer.
“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’s CEO David Karp described why Tumblr members have nothing to worry about:
“Before touching on how awesome this is, let me try to allay any concerns: We’re not turning purple. Our headquarters isn’t moving. Our team isn’t changing. Our roadmap isn’t changing. And our mission – to empower creators to make their best work and get it in front of the audience they deserve – certainly isn’t changing.”
“Yahoo is the original Internet company, and Marissa and her team share our dream to make the Internet the ultimate creative canvas. I couldn’t be more excited to have her help. We also share a vision for Tumblr’s business that doesn’t compromise the community and product we love. Plus both our logos end with punctuation!”
