After a few days of speculation, Yahoo and Tumblr made their deal official this morning. Yahoo CEO Marissa Mayer announced that her company would acquire popular blogging platform in a $1.1 billion, all cash deal.
“We promise not to screw it up. Tumblr is incredibly special and has a great thing going. We will operate Tumblr independently. David Karp will remain CEO,” says Mayer.
So, how does Tumblr founder and CEO David Karp feel about the buy? “Fuck yeah,” he writes in a blog post.
He also assures Tumblr users that the company is “not turning purple,” and that their mission and roadmap are not changing.
Check out Karp’s full blog post:
Everyone, I’m elated to tell you that Tumblr will be joining Yahoo.
Before touching on how awesome this is, let me try to allay any concerns: We’re not turning purple. Our headquarters isn’t moving. Our team isn’t changing. Our roadmap isn’t changing. And our mission – to empower creators to make their best work and get it in front of the audience they deserve – certainly isn’t changing.
So what’s new? Simply, Tumblr gets better faster. The work ahead of us remains the same – and we still have a long way to go! – but with more resources to draw from.
Yahoo is the original Internet company, and Marissa and her team share our dream to make the Internet the ultimate creative canvas. I couldn’t be more excited to have her help. We also share a vision for Tumblr’s business that doesn’t compromise the community and product we love. Plus both our logos end with punctuation!
As always, everything that Tumblr is, we owe to this unbelievable community. We won’t let you down.