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“Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business,” Yahoo! said in a statement.
Tumblr’s chief executive David Karp will continue as CEO and the Tumblr product, service and brand will continue to be defined and developed separately, the struggling Internet pioneer said.
“Tumblr is redefining creative expression online,” said Yahoo! CEO Marissa Mayer in the statement.
“On many levels, Tumblr and Yahoo! couldn’t be more different, but, at the same time, they couldn’t be more complementary. Yahoo! is the Internet’s original media network. Tumblr is the Internet’s fastest-growing media frenzy.”
Online Reporter