A unique in its kind service named Tumblr, which combines the social network’s and microblog's opportunities, was sold to Yahoo! Inc. The project of Bronx high school dropout David Karp was estimated at $1.1 mln. The blogging platform created by 26-year-old David has gained huge popularity due to its originality. The service, which has 108 mln active users and 300 mln loyal guests, is in the top 20 of the most visited U.S. websites.
By buying Tumblr, Yahoo expects to boost the traffic to 1 billion visitors a month. The majority of the users are young people aged 18-25. That is reflected in the site's content; its principal part consists of the controversial videos and expletives. This state of affairs may deter potential advertisers.
Anyway, CEO of Yahoo Marissa Mayer said that this purchase will allow the company to improve its business. According to the terms of the deal, David Karp will stay Chief Executive Officer and will work with the service for at least four years. “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,” David Karp announced.
