The official announcement just hit the newswires. Yahoo has acquired Tumblr for $1.1 billion, “substantially all of which is payable in cash.” Because really, who wants to bet on the stability of Yahoo’s stock price?
In the press release, CEO Marissa Mayer tries desperately to explain the acquisition in any way she can besides admitting Yahoo wants to drink the blood of the young: ”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.”
Mr. Karp also chimed in on, as always, the staff blog:
“The work ahead of us remains the same – and we still have a long way to go! – but with more resources to draw from.”
He added, “Plus both our logos end with punctuation!” He also signed the post, “Fuck yeah.”
The new stepmom is also already trying to placate wailing, hysterical Tumblr users. From a note just posted to Yahoo’s official Tumblr:
We promise not to screw it up. 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.
Let’s go live to the Tumblr dashboard to get the reaction: