Yahoo Buys Blogging Platform Tumblr for $1.1 Billion

The popular blogging platform Tumblr is home to: 111 millon blogs, 51.6 billon posts, 300 million monthly unique visitors and over 120,000 signups every day and has just been acquired by Yahoo for 1.1 billion dollars.

Yahoo CEO Marissa Mayer promised "not to screw it up". Tumblr will NOT be absorbed into Yahoo, as was the case with OnTheAir. Mayer hopes to "grow Yahoo!'s audience by 50% to more than a billion monthly visitors, and could grow traffic by approximately 20%."