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?