Dive summary:
- Yahoo's board has given the green flag to pursue a $1.1 billion acquisition of microblogging site Tumblr.
- The purchase will support CEO Marissa Mayer's plan to revitalize the Yahoo brand,
- Although it is unclear how the two firms will work together, the acquisition seems mutually beneficial as Yahoo needs Tumblr's cachet of engineers and advertisers while Tumblr needs the support to increase monetization.
From the article:
"Tumblr's ad potential is unproven, but brands love its creative possibilities and its lack of reliance on standard banners. If anything, they want to see more ways to advertise on the platform, which reaches over 117 million unique users a month."
