Yahoo! is in talks to buy New York-based social blogging platform Tumblr for as much as $1 billion, according to multiple reports. At that price, Tumblr would be pretty expensive, given that it reportedly only booked $13 million in revenue last year.
Yahoo!’s board plans to meet Sunday to decide whether to approve a $1.1 billion all-cash offer Tumblr, AllThingsD’s Kara Swisher and Peter Kafka reported Friday.
Tumblr has long been considered a major prize, so it’s no surprise that Yahoo! isn’t the only one interested. Tumblr has also held talks with both Facebook and Microsoft, according to Forbes.
The site has become a major destination for young urbanites to post photos, snarky comments, and other ephemera, and then share that content with others. Tumblr is extremely popular with the 18-to-24 year-old-set, precisely the demographic CEO Marissa Mayer is targeting. Mayer wants to incorporate Yahoo!’s products — including search, email, and its popular homepage — into the “daily habits” of its users, in an echo of the “toothbrush” philosophy espoused by her former boss.
In recent months, Yahoo! has reportedly been kicking the tires at Foursquare, Path, Pinterest, and Hulu, according to TechCrunch. “Literally they talk to everyone,” one source told the tech website.
Earlier Friday, Yahoo! invited reporters to a “product” event in New York City on Monday at 5 pm.
TIME