YAHOO INCHING CLOSER TO BUYING TUMBLR FOR $1 BILLION

Yahoo to Buy Tumblr

The internetz have been abuzz over the last 48-72 hours when rumors began emerging that Marissa Meyer and co are mulling a potential deal between Yahoo and Tumblr worth a reported $1 billion.

Yahoo has been on a bit of a shopping spree as it aims to reposition itself into relevancy. In March, Yahoo picked up news aggregation app Summly from its 17 -year-old founder for  $17M.

Tech blog AllThingsD is reporting that the Yahoo board plans on meeting Sunday to discuss the potential all cash offer.  AllThingsD warns that the deal could fall apart if the board isn’t in agreement of the terms.  If a deal is reached, it could be announced on Monday, a day in which Yahoo already has a press conference scheduled.

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