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| Yahoo 'to buy Tumblr for $1.1bn' | Yahoo 'to buy Tumblr for $1.1bn' |
| (about 1 hour later) | |
| Yahoo's board has approved a deal to buy New York-based blogging service Tumblr for $1.1bn (£725m), US media reports say. | |
| The acquisition is expected to be announced as early as Monday. | |
| The deal was a "foregone conclusion" and was a unanimous vote by the board, tech blog AllThingsD reported, citing sources close to the matter. | The deal was a "foregone conclusion" and was a unanimous vote by the board, tech blog AllThingsD reported, citing sources close to the matter. |
| If confirmed, it will be CEO Marissa Mayer's largest deal since taking the helm of Yahoo in July 2012. | |
| Analysts say that by acquiring Tumblr, Yahoo would gain a larger social media presence and enhance its ability to attract younger audiences. It will also help Tumblr generate more revenue from advertisements. | Analysts say that by acquiring Tumblr, Yahoo would gain a larger social media presence and enhance its ability to attract younger audiences. It will also help Tumblr generate more revenue from advertisements. |
| On its home page, Tumblr says it hosts 108 million blogs, with 50.7 billion posts between them. | On its home page, Tumblr says it hosts 108 million blogs, with 50.7 billion posts between them. |
| Under the terms of the acquisition, Tumblr would continue to operate as an independent business, the Wall Street Journal said, citing unnamed sources familiar with the situation. | Under the terms of the acquisition, Tumblr would continue to operate as an independent business, the Wall Street Journal said, citing unnamed sources familiar with the situation. |
| About 700 million web surfers visit Yahoo's website every month, ranking it among the top in the global industry. | About 700 million web surfers visit Yahoo's website every month, ranking it among the top in the global industry. |
| However, it shed more than 1,000 jobs during 2012 and has long been divided over whether it should focus on media content or on tools and technologies. | However, it shed more than 1,000 jobs during 2012 and has long been divided over whether it should focus on media content or on tools and technologies. |
| Chief executive Marissa Mayer was brought in last July from Google to turn the company round, and has been focusing on building better mobile and social networking services. | Chief executive Marissa Mayer was brought in last July from Google to turn the company round, and has been focusing on building better mobile and social networking services. |