It’s official: Yahoo has purchased popular blogging platform Tumblr for more than a billion dollars – $1.1bn to be exact.
The internet’s latest nine-figure acquisition is probably one most industry observers wouldn’t have predicted.
After all, despite that an ex-Googler, Marissa Mayer, is at Yahoo’s helm, there were few prior indicators that she was looking to make a billion dollar purchase.
And if there had been, Tumblr, while incredibly popular, doesn’t seem like the company that would have made it to the top of the list as Yahoo’s track record with acquisitions of user generated content startups is not all that impressive.
From Geocities to Flickr, Yahoo has proven to be a master of reverse alchemy in the space, repeatedly finding ways to turn gold to lead.