The Wall Street Journal is now reporting via Twitter that the rumored $1.1 billion cash acquisition deal for social blogging site Tumblr has been approved by Yahoo’s board of directors. The Tumblr acquisition was rumored last week, with a price tag reportedly north of $1 billion, which appears to be accurate if the WSJ’s sources are correct.
Recently, we’ve seen suggestions that there’s a vacuum developing at the top of Yahoo’s executive ladder, and there have been rumors recently of key people departing from the mobile team. It’s interesting that a lot of these departures are fairly recent, and could go some way to explaining why Tumblr’s may have accepted the $1.1 billion offer when sources have told TechCrunch that the amount was seen as “too low” by some within the company. Our sources also suggested that Tumblr may be looking at a fast-depleting cash pile, which again gives it good reason to sell.
Developing…
Darrell Etherington 20 May, 2013
-
Source: http://techcrunch.com/2013/05/19/the-yahoo-board-has-approved-a-1-1-billion-cash-acquisition-deal-for-tumblr-wsj-reports/
--
Manage subscription | Powered by rssforward.com
Post a Comment