Yahoo to Buy Tumblr for $1.1 Billion, Promises ‘Not to Screw it Up”

Yahoo has agreed to buy Tumblr for $1.1 billion. Yahoo said in a press release that they “promise not to screw it up,” explaining that Tumblr will be operated as an independent business and that David Karp, the  company’s founder will remain CEO.

Still, the two companies will work together in some ways. Here are some details about how from the press release:

Tumblr can deploy Yahoo!’s personalization technology and search infrastructure to help its users discover creators, bloggers, and content they’ll love. In turn, Tumblr brings 50 billion blog posts (and 75 million more arriving each day) to Yahoo!’s media network and search experiences. The two companies will also work together to create advertising opportunities that are seamless and enhance the user experience.

As part of the news release, Yahoo revealed that Tumblr has more than 300 million monthly unique visitors and signup about 120,000 people every day. In addition, Tumblr gets about 900 posts per second, users spend 24 billion minutes on the site per month and more than half of Tumblr’s users use the site’s mobile app.