We heard today that Yahoo! and Tumblr have made plans to agree on Yahoo!’s $1.1 billion acquisition of Tumblr…in an “interesting” admission, Yahoo! said in a media statement that it plans to “not screw up” the acquisition!”
Per the agreement and its promise not to screw it up, Tumblr will be independently operated as a separate business. David Karp will remain CEO. The product, service and brand will continue to be defined and developed separately with the same Tumblr commitment to empower creators.