|Tumblr - tumbled into Yahoo! ownership|
Trend | The Internet War , Yahoo!'s reshaping
Topic | Tumblr acquisition
Location | USA , New York
Marissa Mayer used some of the Yahoo! cash accumulated to purchase the quirky but popular microblogging site Tumblr over the weekend.
Despite Tumblr only having revenue of $13m USD it appears Mayer thought the purchase would add some trendy content to its journey to counter the likes of Google , Facebook and the reinvention of MySpace. The heavy mobile usage also seems to be a key factor for her convincing the board to swoop on Tumblr.
David Karp founded Tumblr in 2007 from his New York , Manhatten apartment and must be smiling today as he and the Tumblr team accepted a $1.1 billion USD purchase for his blogging platform. Karp left school early and he had already taught himself to code (at the age of 11) and is now set to join the ranks of other sub-30 year old millionaires.