Yahoo appears to be poised to make its biggest acquisition since Marissa Mayer became CEO in July 2012. AllThingsD.com reports that Yahoo's board of directors has approved the rumored acquisition of blogging service Tumblr for a paltry $1.1 billion. The official announcement of the board's approval will be made tomorrow Monday in a press release from the company, which has just announced that it plans to announce "something very special," reports neowin . While some publications claim that Yahoo was about to reveal something related to photo sharing service Flickr , the Tumblr purchase is probably a fact (barring the unexpected). AllThingsD also reports that Yahoo was not the only one interested in buying Tumblr as rumors indicated that Facebook and Microsoft had expressed interest in acquiring Tumblr .
Yahoo needed to grow its audience with a younger generation of users, and adding Tumblr to its network of sites will do just that. The service, which launched in 2007, now has about 108 million blogs and 100 million unique visitors each month. Tumblr is an extremely popular site among young people, which is something Yahoo.
