After days of speculation, Yahoo! CEO Marissa Mayer and Tumblr CEO David Karp have officially released statements regarding the widely rumored $1.1B acquisition of Tumblr.
Oddly though, Yahoo! has promised not to screw up the hip social networking and blogging platform. David Karp is to remain CEO and Tumblr will be independently operated as a separate business entity.
Also, Yahoo! believes that the deal offers mutual and unique opportunities for both companies. On one hand, Yahoo! intends to deploy its personalization and search technologies to the Tumblr, and on the other hand, Tumblr brings with it the 50B blog posts, 300M monthly unique visitors and 120,000 daily signups it has been enjoying for quite some time now.
However, whether this decision is truly a great move or not is yet to be seen. Hopefully though, Yahoo! keeps to its promise and not screw this up.