WSJ: Yahoo! Board Approves $1.1 Billion Purchase Of Tumblr

From the feeds..

Another startup bought, for $1.1 billion in cash.

WSJ: Yahoo! Board Approves $1.1 Billion Purchase Of Tumblr:

Yahoo President and CEO Marissa Mayer.

The Wall Street Journal has this breaking news from the tech world:

“The Yahoo board has approved a deal to pay $1.1 billion in cash for the blogging site Tumblr.”

The Journal, the only outlet reporting the approval, is sourcing its story to “people familiar with the matter.” Lauren Armstrong, a Yahoo spokeswoman, told us in an email that they “don’t comment on rumors or speculation.”

(Via News)

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