Nothing will change for the blogging platform, they say

May 20, 2013 12:25 GMT  ·  By

Yahoo has confirmed that it has acquired Tumblr after several days of rumors regarding the transaction.

“Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business. David Karp will remain CEO. The product, service and brand will continue to be defined and developed separately with the same Tumblr irreverence, wit, and commitment to empower creators,” Yahoo said in a press release.

The platform has over 300 million monthly unique visitors and 120,000 signups every day, which makes it one of the fastest-growing media networks in the world.

There are some 900 posts per second and 24 billion minutes spent on site each month, the message said.

Tumblr’s presence on the mobile scene is also noted by Yahoo, especially since more than half of the platform’s users are using the mobile app.

“The deal offers unique opportunities for both companies. 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 the user experience,” Yahoo said.

The Internet giant also confirmed that the deal was of $1.1 billion, all in cash.

“Tumblr is redefining creative expression online,” said Marissa Mayer, Yahoo CEO. “On many levels, Tumblr and Yahoo! couldn’t be more different, but, at the same time, they couldn’t be more complementary.”

“Yahoo is the Internet’s original media network. Tumblr is the Internet’s fastest-growing media frenzy. Both companies are homes for brands - established and emerging. And, fundamentally, Tumblr and Yahoo! are both all about users, design, and finding surprise and inspiration amidst the everyday,” Mayer said.

Tumblr CEO David Karp also wanted to tone down the reaction the news got from the platform’s user base.

“Our team isn’t changing. Our roadmap isn't changing. And our mission – to empower creators to make their best work and get it in front of the audience they deserve – certainly isn't changing. But we’re elated to have the support of Yahoo! and their team who share our dream to make the Internet the ultimate creative canvas. Tumblr gets better faster with more resources to draw from,” Karp said.