AllThingsD reports the anticipated Tumblr acquisition was approved by Yahoo’s board today for the amount of $1.1 billion.
Kara Swisher from AllThingsD said the deal was a “foregone conclusion and was an unanimous vote” by Yahoo’s board. They plan to announce the deal tomorrow, Monday, morning.
This will be Marissa Mayer’s largest acquisition as the CEO of Yahoo. It appears Tumblr will remain as a standalone brand, similar to the Flickr brand.
The Wall Street Journal adds that it is not clear if the Tumblr board has approved the deal as of yet.
Tumblr was founded in 2007 as a microblogging platform and social networking website by David Karp and Marco Arment.
For more details on this breaking story see Techmeme.
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