How much are 105 million blogs of cat pictures, memes and animated GIFs worth? A cool $1.1 billion, apparently. Yahoo announced today that it reached an agreement to acquire blogging site Tumblr.
The move (and the purchase price) may surprise some, as Tumblr is significantly less popular than other social networking sites. According to the Pew Internet and American Life Project, only 6 percent of people online use the site, compared to 67 percent who use Facebook, 16 percent who use Twitter, 15 percent who use Pinterest and 13 percent who use Instagram.
Yahoo CEO Marissa Mayer, who made waves when she renounced the company's telecommuting policy earlier this year, appropriately took to her own, newly created Tumblr page to announce the acquisition. And, of course, she included an animated GIF:
More amusing, perhaps, is her nod to Tumblr's droves of loyal fans, promising "not to screw it up."
"We promise not to screw it up. Tumblr is incredibly special and has a great thing going. We will operate Tumblr independently. David Karp will remain CEO. The product roadmap, their team, their wit and irreverence will all remain the same as will their mission to empower creators to make their best work and get it in front of the audience they deserve. Yahoo will help Tumblr get even better, faster."
While its following may be small, it is growing. According to Quantcast, Tumblr reaches 44 million people in the United States and 134 million around the world, with more than 900,000 posts per second.
Do you think Yahoo's acquisition of Tumblr was a good move? Let me know in the comments section below.