Yahoo Board Approves Tumblr Deal

Monday, 20 May 2013 | by Pat's Picks

Yahoo’s board has apparently approved a $1.1 billion deal to buy blogging site Tumblr, a move the San Jose Mercury News calls CEO Marissa Mayer’s boldest yet. Though Tumblr has yet to make any real revenue (it made about $13 million last year) it has a ton of “cool factor,” something Yahoo is desperately in need of as it tries to remake its image.

SOURCE: San Jose Mercury News