Yahoo Acquires Tumblr for $1.1 Billion

Nick Bilton and Michael J. de la Merced, writing for The New York Times:

Yahoo’s board has agreed to buy Tumblr, the popular blogging service, for about $1.1 billion in cash, a person with knowledge of the agreement said on Sunday.

The deal, sealed at a meeting of Yahoo’s board, is expected to be announced as soon as Monday, said the person, who was not authorized to speak ahead of the announcement.

I hope Marissa Mayer doesn’t fuck up Tumblr like Flickr languished under the previous regime.