SAN FRANCISCO/NEW YORK (Reuters) - Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a younger generation of users and breathe new life into its ailing brand.

The Wall Street Journal is reporting that Yahoo! Inc. (NASDAQ:YHOO) will purchase Tumblr in an all-cash transaction for $1.1 billion.

Yahoo's board approved the transaction on Sunday, and an announcement is expected Monday, according to AllThingsD. Although $1.1 billion seems like a massive amount to pay for a company that generated only $13 million in revenue last year, it's not ...

Yahoo! Inc. (NASDAQ:YHOO) board has approved the acquisition of the blogging platform and the deal has been announced on Monday.

Tumblr · Pinterest · Reddit · Digg · FarkIt · StumbleUpon. Tumblr Inc. Chief Executive Officer David Karp, a 26-year-old who started the company in 2007, signed a note announcing Yahoo! Inc.'s US$1.1-billion acquisition with the salutation, �F� yeah.� ...

SAN FRANCISCO (Reuters) - Yahoo Inc's board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash, the Wall Street Journal cited people familiar with the matter as saying on Sunday.

How does Yahoo Inc. Chief Executive Marissa Mayer justify her company's $1.1 billion purchase of blogging site Tumblr? One word: growth.

SAN FRANCISCO - Yahoo Inc. took the tech-sector spotlight Monday, with its $1.1 billion acquisition of blogging-service operator Tumblr seen as a potential gamble by Chief Executive Marissa Mayer in her attempts to reinvigorate the one-time Internet ...

Yahoo! Inc. (YHOO) is buying blogging network Tumblr Inc. for about $1.1 billion as Chief Executive Officer Marissa Mayer seeks to lure users and advertisers with her priciest acquisition to date.

(AP) - Yahoo Inc. is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times.