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Yahoo! board to consider $1.1 billion all-cash offer for Tumblr

Yahoo! board to consider $1.1 billion

Talks surrounding a possible deal between Yahoo! and Tumblr don’t seem to be dying down anytime soon.

 

AllThingsD reports that sources familiar with the happenings have told them that the Yahoo! board is likely to decide if it should approve a $1.1 billion all-cash offer for Tumblr, when they meet Sunday night.

 

If you’re still clueless about what’s brewing between Yahoo! and Tumblr, let us remind you that Yahoo! may be looking at making a strategic alliance and investment in blogging service Tumblr. Yahoo! has gone even as far as saying that it may buy Tumblr.

To meet and decide

 

 

While there have been serious talks in this respect, the sources maintain that the deal could even come down to nothing.

 

In his speech earlier this week, Yahoo! CFO Ken Goldman admitted that Yahoo! needed to be “cool again”, reports AllThingsD. He said, “One of our challenges is we have had an aging demographic.” As for the company’s plans in this direction, Goldman had said that, “Part of it is going to be just visibility again in making ourselves cool, which we got away from for a couple of years.”

 

Yahoo! CEO Marissa Meyer reportedly has been witnessing the rise and rise of Tumblr from a distance, and it is only off late that the interest in the company has gotten stronger. Incidentally, Tumblr is reported to be considering “strategic” investments.

 

In March this year, Tumblr reached the hundred million blog mark. The site is home to 44.6 billion posts within these hundred million blogs, the ticker on Tumblr’s “About” page has revealed.

 

[source:tech2]

Yahoo

4 comments

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