Yahoo! officially announced Tumblr acquisition for $1.1 Billion cash

Rumor comes trues, Yahoo! officially announced that it acquires Tumblr social blogging platform for $1.1 Billion cash. According to both companies report Tumblr will be independently opaerated as a separate business. David Karp will continue CEO of Tumblr. Because of tumblr acquisition Yahoo! moved their official blog to new address

David Karp, CEO of Tumblr said, "Our team isn't changing. Our roadmap isn't changing. And our missionu to empower creators to make their best work and get it in front of the audience they deserve — certainly isn't changing. But we're elated to have the support of Yahoo! and their team who share our dream to make the Internet the ultimate creative canvas. Tumblr gets better faster with more resources to draw from."

Tumblr is an one of the popular blogging platform currently has 300 million monthly unique visitors and 120,000 signups every day. Tumblr sees 900 posts per second and 24 billion minutes spent on site each month. On mobile, more than half of Tumblr's users are using the mobile app and do an average of 7 sessions per day.

But Tumblr users don't like this acquisition, over 72,000 blogs m oved from Tumblr to Wordpreses with in a hour on yesterday.