A meeting between Yahoo’s board is expected to announce the buying of Tumblr for $1.1 billion.
This will be the biggest buy-out for the Yahoo Company, who along with chief executive Marissa Mayer, has been trying to get up on the times with the growing social media world. The company is hoping buying Tumblr will help. The blogging website has over 108 million blogs , so buying the company could bring in a lot of user content.
One con for the buy-out could be the fact that Yahoo’s past acquisition get neglected or pushed to the side by the company. Those acquisitions include Flickr- a photo sharing wesite- and Geocities.
Yahoo was not the only one interested in buying the six-year-old company. Facebook, Google, and Microsoft all showed their interested, but nothing ever came out of it.
It is unclear whether all 175 Tumblr employees will become Yahoo employees. The deal was first reported by technology website AllThingsD, but should be announced by either Yahoo or Tumblr as early as Monday.