(The Root) — After weeks of speculation, it has been announced that Yahoo will purchase Tumblr, a very popular blogging-site platform used to share various types of media. Yahoo’s big to purchase Tumblr for $1.1 billion has reportedly been approved by both Yahoo’s and Tumblr’s boards of directors.
If the move seems desperate, it’s because it kind of is. Yahoo has struggled to connect with the demographic that most uses Tumblr — 24- to 35-year-olds. Yahoo will spend a third of its cash holdings to snatch up Tumblr and, hopefully, its fans.
But fans of Tumblr aren’t particularly excited about the sale. A jaunt through the #Yahoo hashtag on the site turns up scores of users vowing to leave Tumblr if the site starts placing ads in personal feeds, or if Yahoo changes anything at all. Some are certain that Yahoo wouldn’t dare risk alienating the demographic it so desperately seeks by altering a clearly successful formula, but for the most part, there aren’t too many Tumblr folks baking cakes to celebrate. Watching the transition should be very interesting.
Read more at the Huffington Post.