Yahoo has now officially confirmed that it is buying blogging platform Tumblr for $1.1 billion mostly in cash, after reports on an impending deal first surfaced last week. It says it will keep it as an independent company, with founder David Karp at the helm as CEO. "The product, service and brand will continue to be defined and developed separately with the same Tumblr irreverence, wit, and commitment to empower creators," it writes.Source: http://feedproxy.google.com/~r/Techcrunch/~3/zwpjupWIUL4/
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