Yahoo Acquires Tumblr in Its Most Expensive Cash Deal Worth $1.1 Billion
Yahoo has announced the acquisition of Tumblr for a staggering price of $1.1 billion. It is microblogging platform and social networking website. It has become the fourth most expensive acquisition Yahoo has made in the last 16 years. It can be labeled as the most expensive acquisition if we take into account the amount of cash involved in the deal which was officially announced on May 21. Tumblr was founded by David Karp who never finished high school or enrolled in college. He was involved with several technology startups before he founded Tumblr at the age of 20 six years ago. He is expected to make $250 million from the deal and joins the select circle of entrepreneurs who have struck it rich before turning 30. The Blogging Platform Grew in Value in Just 6 Years David has made Tumblr what it is in a relatively short time because of his programming skills and website design acumen. He had worked for a startup in Tokyo also for few months. On his return to US he became the chief te...