Watching Grizzly Bear play outside in literally perfect evening weather is an extraordinarily pleasant experience.
Yahoo is on the brink of acquiring Tumblr for $1.1 billion in cash, according to a new report. All Things D, which first broke the news that a deal was in the works, says Tumblr’s board will meet on Sunday to consider an all-cash offer for the popular blogging platform. The deal would be Yahoo CEO Marissa Mayer’s largest to date and would reportedly form the centerpiece of her effort to revitalize the company by acquiring younger users. News of the potential deal surfaced hours after Yahoo invited the press to a special event Monday in New York City.
[Oops, didn’t read far enough in my RSS feed before posting.]
CNBC is reporting that Yahoo will hold a “product-related” news event this Monday in New York City. None other than CEO Marissa Mayer will be speaking at the event. Exactly what Yahoo plans to announce hasn’t yet been disclosed, but news of the event comes in the midst of rumors pointing to an acquisition of Tumblr. The extraordinarily popular microblogging site is based out of Manhattan, so the location would make sense if a deal has indeed been finalized.
Is Yahoo trying to acquire Tumblr? Earlier today, All Things D reported that the two companies were in “serious” talks about some kind of deal, and now Adweek is saying that Yahoo is looking to do a straight-up acquisition. The deal could reach as high as $1 billion, say Adweek’s sources, putting it in the same league as Facebook’s acquisition of Instagram last year.