That’s right, as of yesterday, Tumblr is now Yahoo! property. Yahoo! acquired Tumblr at a cost of $1.1 billion. But if you’re worried what the acquisition will do to your favorite Tumblr feeds, Yahoo! CEO Marissa Mayer says don’t worry, they don’t want to mess things up, just help.
“We promise not to screw it up,” says Mayer. ” Tumblr is incredibly special and has a great thing going. We will operate Tumblr independently. David Karp will remain CEO. The product roadmap, their team, their wit and irreverence will all remain the same as will their mission to empower creators to make their best work and get it in front of the audience they deserve. Yahoo! will help Tumblr get even better, faster.”
So what does gaining Tumblr do for Yahoo!? Well, as one of the fastest growing social media outlets on the internet, the intent is that Tumblr will shuffle some of that huge market to Yahoo!. Mayer predicted a 50% increase in traffic due to the merger.
Whether this is a step up or a step down for either site is yet to be seen, but it’s definitely a big step for both Yahoo! and Tumblr.