Yahoo has promised "not to screw up" Tumblr now that it has acquired the freewheeling blogging site. But there are still several ways Tumblr could get better, and worse, as a Yahoo-owned company.
After a weekend full of rumor and speculation, Yahoo confirms its plans to buy Tumblr for $1.1 billion in cash.
Yahoo's board of directors has approved spending $1.1 billion in cash to buy popular blogging site Tumblr, according to The Wall Street Journal.
Yahoo has called a mystery press event in New York City on Monday afternoon, hot on the heels of rumors that it plans to buy Tumblr for US$1 billion.
Rumors are swirling that Yahoo is really, really interested in buying Tumblr to appeal to teens.
While Google promotes its Glass head-mounted display as a new way for people to receive and document information on the fly, several social networking companies including Facebook, Twitter and Tumblr now want a piece of the action, by offering social applications on the device.
The Windows Phone Store adds more high-profile apps, with micro-blogging site Tumblr the latest debut in a string of new offerings.