SUMMARY
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After much buzz and speculation, Yahoo! CEO Marissa Mayer announces Yahoo’s acquisition of popular blogging platform Tumblr. In an announcement made on Yahoo!’s new Tumblr account, the search portal promised “not to screw it (Tumblr) up” as they enter a “definitive agreement”. Tumblr will, however, continue to operate independently as it aligns with Yahoo. The strategic move is designed to harness users from the 18- 24 year old bracket, a group popular with the blogging platform Tumblr, as the older Internet company Yahoo has been forced in the background by more popular websites like Google in recent years.
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