Disclaimer. ", Related: Yahoo's $1.1 billion acqui-hire of David Karp. In a press release, Yahoo said Tumblr has more than 300 million monthly unique visitors and 120,000 signups every day; it sees 900 posts per second and 24 billion minutes spent on site each month.

After a weekend chock full of rumors and speculation, Yahoo has announced it plans to acquire Tumblr, the popular social service that hosts more than 105 million GIF-filled blogs, for $1.1 billion in cash. CNN Sans™ & © 2016 Cable News Network. Could a Tumblr deal fix Yahoo's square reputation?

Existing posts containing porn were made private and are no longer publicly accessible. Verizon inherited Tumblr as part of its 2017 acquisition of Yahoo, which bought Tumblr in 2013. The work ahead of us remains the same—and we still have a long way to go!—but with more resources to draw from.”.

Under Mayer's watch, Yahoo has also bought mobile start-up Stamped for its engineering staff. Mayer is scheduled to appear at an event in New York later Monday. The heads of the two companies took to Tumblr to explain the union and (hopefully) alleviate some fears. To learn more or opt-out, read our Cookie Policy. We want to hear from you. These are your 3 financial advisors near you, This site finds and compares 3 financial advisors in your area, Check this off your list before retirement: talk to an advisor, Answer these questions to find the right financial advisor for you, An Insane Card Offering 0% Interest Until Nearly 2020, Transferring Your Balance to a 14-Month 0% APR is Ingenious, The Top 7 Balance Transfer Credit Cards On The Market Today, Get $300 Back With This Outrageous New Credit Card. And our mission—to empower creators to make their best work and get it in front of the audience they deserve—certainly isn’t changing. as well as other partner offers and accept our, Any deal is unlikely to be for a price anywhere near the $1.1 billion that Yahoo paid for Tumblr back in 2, $230 million three years later, and Tumblr's popularity has faded in recent years. IDG News Service's Chris Kanaracus contributed to this report. Verizon is seeking a buyer for Tumblr, the blogging platform it acquired along with other Yahoo assets in 2017. Yahoo banned porn, and site traffic plummeted. A Division of NBCUniversal. Mayer compared the deal to what she said were the most successful tech acquisitions in the past, Google's purchase of YouTube and the purchase of PayPal by eBay (EBAY), combinations that she said were virtually invisible to users of the Web sites that were being acquired. © 2020 Cable News Network. But Mayer has also been criticized for some of her moves since she left Google to become CEO of Yahoo, especially her decision that Yahoo employees could no longer work from home. At the heart of it: Pornography. Yahoo may write off virtually all the value of its big Tumblr acquisition. To answer those worries, Yahoo said that Tumblr will be independently operated as a separate business with Karp staying on as CEO. So Mayer had to sell him on the idea that Yahoo should, instead, buy Tumblr. But Yahoo never really knew what to do with Tumblr, and the micro-blogging site — with its millions of personal blogs and some of the weirdest, best things on the internet — did nothing to reverse Yahoo’s business fortunes. Visit Business Insider's homepage for more stories. Verizon is selling Tumblr to Automattic, the company that owns WordPress. Tumblr, it seems, is not necessarily part of that strategy. Follow @CNBCtech on Twitter for the latest tech industry news. Got a confidential news tip? "They fear loss of control over the interface, over privacy, and over the freedom of expression in general," Gartner analyst Andrew Frank told IDG News Service via email.