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Yahoo! to Acquire Tumblr

Here’s David Karp, Founder of Tumblr, speaking at Ogilvy just a few months ago.

Yahoo! to Acquire Tumblr

Promises not to screw it up

Yahoo! Inc. and Tumblr announced today that they have reached a definitive agreement for Yahoo! to acquire Tumblr.
Per the agreement, Yahoo! promised not to screw it up, Tumblr will be independently operated as a separate business. David Karp will remain CEO.

Stats to know from Yahoo!’s press release about Tumblr:

– Tumblr has more than 300 million monthly unique visitors.

– 120,000 signups every day.

– Earns 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.

– 50 billion blog posts (and 75 million more arriving each day).

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.

“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, “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.”

Click here to read the full press release

Here’s a quote from WordPress Founder, Matt Mullenweg, who posted a blog post when this was all speculation. He said “imports have actually spiked on the rumors even though it’s Sunday: normally we import 400-600 posts an hour from Tumblr, last hour it was over 72,000.” (All Things D)

We are proud to be an A-List Partner of Tumblr.

Published by

Adam Kornblum

Adam is the Social Business Producer for Social@Ogilvy. He invented a board game which was acquired by the Parker Brothers & Milton Bradley lines at Hasbro in 2009 and launched a new party game in January of 2012 in collaboration with seven-time New York Times bestselling author, Neil Strauss. Feel free to connect with him on Twitter - @AdamKornblum.

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