Five year-old Tumblr has close to 200 million users spending 24 billion minutes on the site each month. The purchase is expected to grow Yahoo’s monthly audience by 50 per cent to more than a billion visitors and also to boost traffic to its sites by approximately 20 per cent.
Mayer says: “Tumblr is the internet’s fastest-growing media frenzy. Both companies are homes for brands – established and emerging. And, fundamentally, Tumblr and Yahoo are both all about users, design, and finding surprise and inspiration amidst the everyday.”
Industry pundits note the purchase is a move by Yahoo restore its reputation as a cutting edge outfit, especially among younger audiences, as well as an attempt to shore up its mobile and social presence with Mayer vowing “not to screw it up” during a conference call.
Tumblr founder David Karp will remain as CEO of the outfit.
He says: “Our team isn’t changing. Our roadmap isn’t changing. And our mission – to empower creators to make their best work and get it in front of the audience they deserve – certainly isn’t changing.
“But we’re elated to have the support of Yahoo and their team who share our dream to make the Internet the ultimate creative canvas.”
The purchase comes as Mayer nears her first full year in office after joining from Google in July 2012.
This period has seen her make numerous changes, including a major emphasis on its mobile offering, including the £30m purchase of mobile news services Summly – an UK headed-up by teenager Nick D’Aloisio.