The former leading search engine in the world, Yahoo!, through their board has approved a deal to purchase, Tumblr, one of the fastest growing blogging platform, for an enormous $1.1 billion in cash.
The Wall Street Journal reported on Sunday that if the deal would push through, it could be the largest acquisition by Yahoo! since the first day that former Google Executive Marissa Mayer took over as CEO of the company.
According to some industry analyst, the acquisition could help the struggling Internet pioneer to regain traction with younger internet users. Although there’s no official confirmation from either Tumblr or Yahoo!, but Mayer scheduled as news conference in New York on Monday.
For the past few months, Yahoo! has been looking at a range of acquisitions and the company’s CEO Mayer, vowed to revive the search giant, after they were defeated in the current search leader Google.
Based upon the survey’s conducted by Survata, they found out that Tumblr is more popular than Facebook among those aged 13 t0 25. Although Tumblr generates very little revenue, but it could potentially an (–foul word(s) removed–)et for new advertising and other revenue sources in the coming years.