Yahoo completes Tumblr acquisition, reemphasizes it will be independently operated and developed separately
vYahoo today announced it has completed its acquisition of Tumblr. The company first announced plans to snap up the blogging platform exactly a month ago, on May 20.
“Tumblr is an incredible company,” Yahoo CEO Marissa Mayer said in a statement. “I’m thrilled to officially welcome David and his team to Yahoo!”
As part of today’s closing news, Yahoo once again emphasized Tumblr will be independently operated. This means the product, service, and brand will continue to be defined and developed separately by the Tumblr team, of which David Karp will remain CEO.
“We are beyond excited to partner with Marissa and the wonderful team at Yahoo! that we’ve already come to know well,” Karp said in regards to the deal’s completion. “Their support and belief in our vision gives us an opportunity now to be the most ambitious we’ve ever been.”
More to follow.
