Israeli escalation in Gaza amid warnings of humanitarian collapse    Tax revenues surge over 40% without new burdens: ETA chief    Egypt's public-private partnership investments hit EGP 19.8bn in FY 2023/2024: Tahoun Consulting    Egypt's PM attends Gabon president's inauguration after election win    Egypt's Abdelatty, US Advisor Boulos hold call on Africa, Middle East stability    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    EU ambassador commends Aswan's public healthcare during official visit    Agricultural Bank of Egypt offers 5-year livestock loans at 5% to support small farmers    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    EGP closes high vs. USD on Wednesday    Euro area GDP growth accelerates in Q1'25    Germany's regional inflation ticks up in April    Germany among EU's priciest labour markets – official data    Taiwan GDP surges on tech demand    UNFPA Egypt, Bayer sign agreement to promote reproductive health    Egypt to boost marine protection with new tech partnership    Eygpt's El-Sherbiny directs new cities to brace for adverse weather    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Egypt FM affirms full support for Somalia's unity, security    Central Bank of Egypt meets Chinese delegation to enhance bilateral relations    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Egypt's Ministry of Health launches trachoma elimination campaign in 7 governorates    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Egyptian Minister praises Nile Basin consultations, voices GERD concerns    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Yahoo to buy Tumblr for $1.1bn
New Yourk Published in Arab News Agency on 20 - 05 - 2013

Yahoo's board has approved a deal to buy New York-based blogging service Tumblr for $1.1bn (£725m), US media reports say.
The acquisition is expected to be announced as early as Monday.
The deal was a "foregone conclusion" and was unanimously voted for by the board, tech blog AllThingsD reported, citing sources close to the matter.
If confirmed, it will be CEO Marissa Mayer's largest deal since taking the helm of Yahoo in July 2012.
Neither Yahoo nor Tumblr responded immediately to requests for comment.
Under the terms of the acquisition, Tumblr would continue to operate as an independent business, the Wall Street Journal said, citing unnamed sources familiar with the situation.
The company is currently run by David Karp, a 26-year-old New Yorker who founded Tumblr in 2007, and he is expected to remain in his role.
Analysts say that by acquiring Tumblr, Yahoo will gain a larger social media presence and enhance its ability to attract younger audiences in its battle with internet rivals Google and Facebook.

Clic here to read the story from its source.