Exactly one month after announcing plans to acquire microblogging platform Tumblr for $1.1 billion, Yahoo has closed the deal.
The Internet giant announced Thursday that it officially owns Tumblr. The company announced the acquisition last month, saying that the $1.1 billion purchase price would be "substantially all...in cash." The company also promised at that time "not to screw [Tumblr] up."
Tumblr is highly popular site with over 300 million monthly unique visitors. The company was founded in 2007. Under the terms of the deal, Tumblr will remain its own entity under the Yahoo … Read more