Link: Yahoo Board Approves $1.1 Billion for Tumblr ☍

Shared on May 19, 2013

Kara Swisher for AllThingsD:

As part of the deal, Tumblr CEO David Karp—who got a windfall of cash from the deal—will stay at Yahoo for four years at least and retain much control over the service, much in the same way Instagram CEO Kevin Systrom does at Facebook. But, as there, Yahoo will undergird Tumblr’s nascent advertising business with its large and established infrastructure.

So Yahoo is buying a popular community social site and integrating a few parts of it with its business? Where have I heard this before?

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