Yahoo completes Tumblr acquisition, aims for 1bn monthly audience

Guardian UK - Yahoo has closed its acquisition of blogging service Tumblr, paying $1.1bn (£711.12m) for the company and promising that it will retain its independence.

The deal was announced on 20 May, and is the most ambitious move yet by chief executive Marissa Mayer to turn around perceptions of Yahoo as a stagnating internet giant that struggles when bringing innovative startups into its business.  Read more.