The CEO of Yahoo, Marissa Mayer has decided to buy the social micro-blogging site known as Tumblr. She also plans on updating Flickr for her company’s sake. Both these transactions are rumored to take place in an event set for Monday.
Marissa Mayer has her eyes set on purchasing Tumblr. It will be quite an asset in Yahoo’s arsenal. In a move meant to cement the image of Yahoo, she plans on updating Flickr. The press has been invited to an event to be held this Monday during which the twin decisions will be announced. While the head of Tumblr has been passing up offers by various companies to buy his set-up, he has had a number of meetings with Marissa Mayer.
Don't Miss: The NES Classic In Stock at these Stores
During the span of these negotiations, Marissa has tried to convince him regarding her sincere intentions. She wants to build Tumblr from the ground up according to All Things D report. By boosting profits for the site she intends to do what is in the best interest of all parties concerned. The cash figure offered for Tumblr amounts to a whopping $1.1 billion.
The day Marissa Mayer became CEO of Yahoo was a moment of change for the Internet giant. She overhauled and revamped the style of the organization. One of the basic rules this tough female boss laid down was that no more employees would work from home anymore. This was to enforce a little discipline in the employees. Now she is about to remake the homepage, content and apps that will be a part of Yahoo.
Besides Tumblr being one of the expected acquisitions there is the photo service known as Flickr which will feature among the updated sites as reported in Bloomberg. The event where these important decisions will be aired has New York as its venue. And it is to be held in the afternoon around 4:00 pm. Mayer will address the gathering.
Already there are sneak peeks into what will occur at the occasion. There is the message that has gone viral that says in effect “join us as we share something special.” This deal is comparable to Facebook’s merger of Instagram for a solid $1 billion. The location of Tumblr lies close to Manhattan which makes it ideal for Yahoo. Although the news is still in the province of hearsay there is much truth to it. Yet as they say, there is more to everything than meets the eye.
Tumblr has been having second thoughts and is reputed to have reserved an option of rejecting the $1.1 billion offer. It is hungry for more cash as Facebook and Microsoft are also interested to acquire Tumblr. Whether Yahoo will have to cough up more cash on demand is a question that will get decided on the coming Monday.