It's Official: Yahoo Is Buying Tumblr For $1.1B, Promises To Keep It Independent

Yahoo has now officially confirmed that it is buying Tumblr for $1.1 billion, confirming speculation that started last week. It says it will keep it as an independent company, with founder David Karp at the helm as 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," it writes.

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