It’s a wrap – blogging platform Tumblr now belongs to Yahoo! The internet giant announced yesterday it has completed its acquisition of the company for US$1.1bn.
Under the deal, Tumblr can deploy Yahoo!’s personalisation technology and search infrastructure to help its users discover creators, bloggers and content.
Tumblr, which brings 50bn blog posts (and 75m more arriving daily) to Yahoo!’s media network and search experiences, will operate independently. David Karp will remain the company’s CEO.
Yahoo! said it will support Tumblr’s efforts to create seamless advertising opportunities that enhance the user experience.
Yahoo! had also said it expects the acquisition to increase Yahoo!’s audience by 50pc to more than 1bn monthly visitors and to grow traffic by about 20pc.