Yahoo! has been on a buying spree of late, the latest acquisition by the struggling search giant is rumoured to be micro blogging platform; Tumblr, in a deal expected to go as high as $1 billion.
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Tumblr has been quite a popular platform among teens and twenty somethings and that is exactly the sort of target Yahoo! is said to be aiming at nowadays. Yahoo! is said to be in “serious” with Tumblr that will see either a strong partnership or a whole acquisition in a deal that is said to go as high as $1 billion, about a quarter of the cash Yahoo! is said to have onhand. Tumblr is said to be worth roughly $800 million at the moment and plays host to over 107 million blogs with over 50 million posts.
An acquisition of the platform makes sense for the struggling search giant, and what better way to reach the youth than through one of their favourite micro blogging platforms.