The Yahoo! Tumblr acquisition rumors appear to have come to fruition, as the Wall Street Journal has reported that the Yahoo board has approved the colossal $1.1 billion deal to buy out Tumblr. Sources close to the deal also indicate that the vote was a foregone conclusion and was approved unanimously by Yahoo’s executive board.
Breaking: The Yahoo board has approved a deal to pay $1.1 billion in cash for the blogging site Tumblr. wsj.com
— Wall Street Journal (@WSJ) May 19, 2013
Recently some outlets like TechCrunch have suggested that Tumblr may look to hold out for a few more bucks, however, given that Tumblr has a quickly depleting stockpile of cash left in the reserves, this may have forced their hand to sell.
So what do you think about Tumblr’s new fortunes and future?
yahoo is probably happy but tumblr users are not!