Yikes, according to The Wall Street Journal, Yahoo's rumored-acquisition of Tumblr has been approved. It has been said that the company is going after the hip micro-blogging site because of its young user base. The deal has been all-cash and worth $1.1 billion. CEO Marissa Mayer will mostly likely officially announce the acquisition tomorrow in NYC, where Yahoo is having an impromptu press conference, that was hastily put together.
Many (most) of Tumblr's users have been crying out in outrage as they try and prevent the merger. Unfortunately, their efforts seemed to not be enough to stop the acquisition.
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