The Yahoo offer to purchase Tumblr has been accepted and the blogging service is formally joining the former search giant.
Rumors began spreading just last week, and although a $1.1 billion purchase price was approved by the Yahoo board of directors yesterday, there was no guarantee that Tumblr would accept it. However, Yahoo CEO Marissa Mayer’s dream has become a reality, and the deal has gone through.
Tumblr CEO David Karp posted the following this morning (with a minor edit on our part for language at the very end):
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.
Marissa Mayer also took to Yahoo’s newly launched Tumblr page with her own missive on the deal, complete with an animated GIF.
I’m delighted to announce that we’ve reached an agreement to acquire Tumblr!
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. The product roadmap, their team, their wit and irreverence will all remain the same as will their mission to empower creators to make their best work and get it in front of the audience they deserve. Yahoo! will help Tumblr get even better, faster.
Tumblr has built an amazing place to follow the world’s creators. From art to architecture, fashion to food, Tumblr hosts 105 million different blogs. With more than 300 million monthly unique visitors and 120,000 signups every day, Tumblr is one of thefastest-growing media networks in the world. Tumblr sees 900 posts per second (!) and 24 billion minutes spent onsite each month. On mobile, more than half of Tumblr’s users are using the mobile app, and those users do an average of 7 sessions per day. Tumblr’s tremendous popularity and engagement among creators, curators and audiences of all ages brings a significant new community of users to the Yahoo! network. The combination of Tumblr+Yahoo! could grow Yahoo!’s audience by 50% to more than a billion monthly visitors, and could grow traffic by approximately 20%.
In terms of working together, Tumblr can deploy Yahoo!’s personalization technology and search infrastructure to help its users discover creators, bloggers, and content they’ll love. In turn, Tumblr brings 50 billion blog posts (and 75 million more arriving each day) to Yahoo!’s media network and search experiences. The two companies will also work together to create advertising opportunities that are seamless and enhance user experience.
As I’ve said before, companies are all about people. Getting to know the Tumblr team has been really amazing. I’ve long held the view that in all things art and design, you can feel the spirit and demeanor of those who create them. That’s why it was no surprise to me that David Karp is one of the nicest, most empathetic people I’ve ever met. He’s also one of the most perceptive, capable entrepreneurs I’ve worked with. His respect for Tumblr’s community of creators is awesome, and I’m absolutely delighted to have him and his entire team join Yahoo!.
Both Tumblr and Yahoo! share a vision to make the Internet the ultimate creative canvas by focusing on users, design — and building experiences that delight and inspire the world every day.
— Marissa Mayer, CEO of Yahoo!
If it’s any indication how the users of Tumblr felt about this deal, even before it was official, Matt Mullenweg of WordPress stated on his blog that the normal import rate of 400 to 600 posts per hour had skyrocketed to 72,000 per hour yesterday. After Yahoo’s purchase of Flickr, users were not happy and fled the service, this time around the company is going to have to do more than simply “promise not to screw it up” to make sure Tumblr doesn’t hemorrhage too many users.