Deals
Yahoo Paying Dot-Com Premium for Tumblr Tests Mayer: Real M&A
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Marissa Mayer is buying companies like it’s 1999.
The Yahoo! Inc. chief executive officer yesterday announced the company will acquire blogging network Tumblr Inc., part of a plan to restore the Web portal to its heyday as an Internet darling. With $13 million in sales last year, Tumblr’s $1.1 billion price tag represents the richest valuation for a dot-com company since 2000, according to data compiled by Bloomberg on deals for which revenue figures are available.