According to the Wall Street Journal, the Yahoo board has approved a $1.1 billion cash deal to purchase blogging site Tumblr.
The move will see one of the most unpopular companies in the world buying one of the coolest sites on the internet, and users aren’t too happy. See for yourself.
It’s still unclear how Yahoo will put to use the site that it’s paying a 10-figure sum for, but for that price you expect it to be something that will make it money. Yahoo is expected to announce the deal early tomorrow morning, but I wouldn’t expect an answer to what they’re planning to do with the company.