follow @moshbyte on twitter for more or like on facebook Mosh Byte
Yahoo! Inc. (NASDAQ: YHOO) and Tumblr announced today that they have reached a definitive agreement for Yahoo! to acquire Tumblr.
Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business. David Karp will remain CEO.
The product, service and brand will continue to be defined and
developed separately with the same Tumblr irreverence, wit, and
commitment to empower creators.
With more than 300 million monthly unique visitors and 120,000 signups
every day, Tumblr is one of the fastest-growing media networks in the
world. Tumblr sees 900 posts per second (!) and 24 billion minutes spent on site each month.
On mobile, more than half of Tumblr's users are using the mobile app
and do an average of 7 sessions per day. Its tremendous popularity and
engagement among creators, curators and audiences of all ages brings a
significant new community of users to the Yahoo! network. The
combination of Tumblr+Yahoo! is expected to grow Yahoo!'s audience by 50
percent to more than a billion monthly visitors, and to grow traffic by
approximately 20 percent.
The deal offers unique opportunities for both companies. Tumblr can
deploy Yahoo!'s personalization technology and search infrastructure to
help its users discover creators, bloggers, and content they'll love. In
turn, Tumblr brings 50 billion blog posts (and 75 million more arriving
each day) to Yahoo!'s media network and search experiences. The two
companies will also work together to create advertising opportunities
that are seamless and enhance the user experience.
Total consideration is approximately $1.1 billion, substantially all of which is payable in cash.
"Tumblr is redefining creative expression online," said Yahoo! CEO Marissa Mayer. "On many levels, Tumblr and Yahoo! couldn't be more different, but, at the same time, they couldn't be more complementary. Yahoo is the Internet's original media network.
Tumblr is the Internet's fastest-growing media frenzy. Both companies
are homes for brands - established and emerging. And, fundamentally,
Tumblr and Yahoo! are both all about users, design, and finding surprise
and inspiration amidst the everyday."
"I've long held the view that in all things art and design, you can feel
the spirit and demeanor of the creator. That's why it was no surprise
to me that David Karp is one of the nicest, most empathetic people I've
ever met. He's also one of the most perceptive, capable entrepreneurs
I've ever worked with," continued Mayer. "David's respect for Tumblr's
community of creators is awesome. I'm absolutely delighted to have him
join our team."
David Karp, CEO of Tumblr, addressed
the Tumblr community, "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. But we're elated to have the support of Yahoo! and their team
who share our dream to make the Internet the ultimate creative canvas.
Tumblr gets better faster with more resources to draw from."
The transaction, which is subject to customary closing conditions, is expected to close in the second half of the year.
No comments:
Post a Comment
let have your opinion