 "It's official: Yahoo confirms it is buying Tumblr for $1.1bn")
Yahoo Inc will buy online blogging service Tumblr for $1.1 billion in cash, the company said on Monday.
The move comes even as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times.
The deal announced Monday represents Mayer’s boldest move yet since she left Google 10 months ago to lead Yahoo’s latest comeback attempt. It marks Yahoo’s most expensive acquisition since the Sunnyvale, California, company bought Overture for $1.3 billion a decade ago.
Tumblr now figures to play a pivotal role in Mayer’s attempt to reshape Yahoo Inc.
Mayer is betting that Tumblr, a 6-year-old service started by high school dropout David Karp, will provide Yahoo with a hook to reel in more traffic and advertisers on smartphones and tablets.
The companies say Tumblr will remain independently operated and Karp will stay CEO.
Associated Press
 "Best phones under Rs 75,000 (Dec 2023): Google Pixel 7 Pro, Apple iPhone 14 to OnePlus 11 5G")
 "Best phones under Rs 60,000 (Dec 2023): OnePlus 11 5G, Apple iPhone 13 to Nothing Phone (2)")
 "Best phones under Rs 50,000 (Dec 2023): Samsung Galaxy S22 5G, Google Pixel 7a to Nothing Phone (2)")
 "Best phones under Rs 40,000 (Nov 2023): Realme GT 2 Pro, OnePlus 11R 5G to Samsung Galaxy S21 FE 5G")
 "Best phones under Rs 75,000 (Dec 2023): Google Pixel 7 Pro, Apple iPhone 14 to OnePlus 11 5G")
 "Best phones under Rs 60,000 (Dec 2023): OnePlus 11 5G, Apple iPhone 13 to Nothing Phone (2)")
 "Best phones under Rs 50,000 (Dec 2023): Samsung Galaxy S22 5G, Google Pixel 7a to Nothing Phone (2)")
 "Best phones under Rs 40,000 (Nov 2023): Realme GT 2 Pro, OnePlus 11R 5G to Samsung Galaxy S21 FE 5G")