SUNNYVALE, Calif. & NEW YORK--(BUSINESS WIRE)--
Yahoo! Inc. (NASDAQ: YHOO) today announced it has completed its
acquisition of Tumblr.
Tumblr is one of the fastest-growing media networks in the world. Its
tremendous popularity and engagement among creators, curators and
audiences of all ages brings a significant new community of users to the
Yahoo! network. The combination of Tumblr and Yahoo! is expected to grow
Yahoo!'s audience to more than one billion monthly visitors.
The deal offers unique opportunities for both companies. Tumblr can
deploy Yahoo!'s personalization technology and search infrastructure to
help its users discover creators, bloggers, and content they'll love.
With more than 50 billion blog posts (and 75 million more arriving each
day), Tumblr can bring complementary content to Yahoo!'s media network
and search experiences. Yahoo! will support Tumblr's efforts to create
advertising opportunities that are seamless and enhance the user
Tumblr will be independently operated, and the product, service and
brand will continue to be defined and developed separately by the Tumblr
team. David Karp will remain CEO.
"Tumblr is an incredible company. I'm thrilled to officially welcome
David and his team to Yahoo!," said Yahoo! CEO Marissa Mayer.
On the deal completion, Tumblr CEO David Karp said, "We are beyond
excited to partner with Marissa and the wonderful team at Yahoo! that
we've already come to know well. Their support and belief in our vision
gives us an opportunity now to be the most ambitious we've ever been."
Tumblr is a media network powered by an army of independent creators and
home to an audience of more than 300 million unique visitors. Founded by
David Karp in 2007, Tumblr is headquartered in New York City.
Yahoo! is focused on making the world's daily habits inspiring and
entertaining. By creating highly personalized experiences for our users,
we keep people connected to what matters most to them, across devices
and around the world. In turn, we create value for advertisers by
connecting them with the audiences that build their businesses. Yahoo!
is headquartered in Sunnyvale, CA, and has offices located throughout
the Americas, Asia Pacific (APAC) and the Europe, Middle East and Africa
(EMEA) regions. For more information, visit the pressroom (pressroom.yahoo.net)
or the company's blog (yahoo.tumblr.com).
This press release contains forward-looking statements that involve
risks and uncertainties concerning the product plans of Yahoo! and
Tumblr, their strategic and operational plans, and their expectations
regarding combined audience size and user engagement. Actual events or
results may differ materially from those described in this press release
due to a number of risks and uncertainties. The potential risks and
uncertainties include, among others, that the anticipated benefits of
the transaction to Yahoo!, including projected growth in audience,
traffic, engagement, and benefits to users and advertisers, may not be
realized. More information about potential factors that could affect
Yahoo!'s business and financial results is included under the captions,
"Risk Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations," in the Company's Annual Report on
Form 10-K for the year ended December 31, 2012 and Quarterly Report on
Form 10-Q for the quarter ended March 31, 2013, which are on file with
the Securities and Exchange Commission ("SEC") and available at the
SEC's website at www.sec.gov.
Lauren Armstrong, 408-718-6640
Source: Yahoo! Inc.
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