In Boost for Silicon Alley, Yahoo to Buy Tumblr for $1.1B
Monday, May 20, 2013 - 06:45 AM
The board of the long-faltering tech giant Yahoo has reportedly agreed to pay $1.1 billion for Tumblr, a New York-based social blogging platform with more than a hundred million blogs and a young, engaged user base. The deal might just make Yahoo hip again.
So, what does it mean for Tumblr and the Silicon Alley startup scene?
New Tech City host Manoush Zomorodi says there has not been a splashy IPO or big acquisition in New York's tech scene in recent years, so all eyes are trained on the deal to see how it shakes out for Tumblr and its 26-year-old founder David Karp.
Zomorodi speaks with Soterios Johnson on Morning Edition.