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Sunday, May 19, 2013

Tumblr blog sold for $1.1 billion

Yahoo has bought one of the top blogging platform Tumblr for $1.1 billion, Yahoo Officials confirmed.

Tumblr is a micro-blogging platform for quickly posting pictures, text and video, also functions as a social media site.

Tumblr contains 100 million users and 90 million daily blog posts. As of May 19, 2013, Tumblr has over 108 million blogs with headquarters in Midtown Manhattan, New York City.

David Karp, 26 years younger guy is Founder and CEO of Tumblr.

Tumblr had revenue of only $13 million last year.

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