(Ping! Zine Web Tech Magazine) – In what could be considered as the first very significant move of CEO Marissa Mayer’s term, Yahoo! has scooped up popular blogging network Tumblr for an acquisition amount of $1.1 billion.
The move was announced late Monday as Yahoo! promised “not to screw it up,” according to a CNN.com report.
Meanwhile, Tumblr will retain CEO David Karp.
“In terms of working together, Tumblr can deploy Yahoo!’s personalization technology and search infrastructure to help its users discover creators, bloggers, and content they’ll love. In turn, Tumblr brings 50 billion blog posts (and 75 million more arriving each day) to Yahoo!’s media network and search experiences. The two companies will also work together to create advertising opportunities that are seamless and enhance user experience,” stated Mayer via a post appearing on Tumblr.
Tumblr hosts 105 blogs via its network. Yahoo! in recent years has struggled against the popularity of sometimes-rival Google despite remaining one of the web’s most visited online presences.