The rumoured Yahoo purchase of Tumblr is now official, at $1.1 billion. Yahoo's own press release announcing the deal explains that the company has promised "not to screw up" the blogging platform.
"Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business. David Karp will remain CEO. The product, service and brand will continue to be defined and developed separately with the same Tumblr irreverence, wit, and commitment to empower creators," the announcement says.
So Tumblr has clearly been quite adamant that it doesn't want Yahoo interfering too much with its brand. The blogging platform is one of the most popular websites on the internet, managing more than 300 million monthly unique visitors and 120,000 daily sign-ups.
"On many levels, Tumblr and Yahoo! couldn't be more different, but, at the same time, they couldn't be more complementary, said Marissa Mayer, Yahoo CEO. "Yahoo is the internet's original media network. Tumblr is the internet's fastest-growing media frenzy. Both companies are homes for brands - established and emerging. And, fundamentally, Tumblr and Yahoo are both all about users, design, and finding surprise and inspiration amidst the everyday."
The Tumblr purchase is the latest in a long line of buyouts by Yahoo. The company recently purchased Summly, a content aggregation app, for $30 million. It is all part of Yahoo's increased effort to change its company image and garner some of the sense of cool that competitor Google displays.
How exactly the Tumblr purchase will play out remains to be seen, but expect David Karp's project to remain relatively untouched for the time being.