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Technology

Reports On Yahoo! Inc. (NASDAQ:YHOO) Board Approval For Tumbler Inc. – GOOG, FB

May 20, 2013 by Mike Anderson in Technology with 0 Comments

Northern, WI 05/20/2013 (tradewatchmedia) – The board of directors at Yahoo! Inc. (NASDAQ:YHOO) (Up by 0.23%, closed at $26.52) had approved the acquisition of Tumbler Inc., according to reports by a Wall Street Journal. Though there were no indications on such takeover by Yahoo! Inc. (NASDAQ:YHOO), reports convey that Tumbler Inc. after acquisition would continue to operate as an independent business.

Press event for Flickr
Yahoo! Inc. (NASDAQ:YHOO) has scheduled a press event to unveil updates on its photo sharing site, Flickr in New York. However, there are no indications that the acquisition of Tumbler Inc., which is also based in New York would be announced at the press event by Yahoo! Inc. (NASDAQ:YHOO). Tumblr Inc., founded in 2007 presently has 13 billion global page views recorded in the last month to its website. Further the company had also recently started to increase its profitability by letting the advertisers pay for the premium placements of their ads.

Acquisition of Tumblr Inc.
The acquisition of Tumblr Inc. would be in line with attempts by CEO of Yahoo! Inc. (NASDAQ:YHOO) to gain back the market share lost to its competitors like Google Inc. (NASDAQ:GOOG) (Closed: $909.18, Up by 0.59%) and Facebook Inc. (NASDAQ:FB) (Closed: $26.25, Up by 0.46%). The Chief Executive Officer of Yahoo! Inc. (NASDAQ:YHOO) had been on the move to turn around the company through revamping of products such as the Yahoo! Homepage and email, but had made little headway in the attempts. Yahoo! Inc. (NASDAQ:YHOO) had recently reported a drop in its main display advertising business and had issued a sales forecast for the quarter, which might fall short of analysts’ estimates.

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About Mike Anderson

Mike Anderson started in Economy and markets, but soon made the switch as editor. While in school, Mike had television internships in Washington D.C., New York City, and Dublin. Mike was also been integral part of nonprofit for citizen activists, and has worked at The Heritage Foundation, Hills dale College's Washington office, the U.S. Chamber of Commerce and the senior levels of the legislative and executive branches of government. Mike covered the U.S. House for Roll Call. He has also worked for Congress Daily, covering the House, Senate and campaign finance beats.

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