Yahoo! Pays $1.1 Billion to Acquire Tumblr

The signature is on the dotted line. While it was first rumored that Yahoo! had plans to acquire the micro-blogging platform, it has now been announced officially that the internet corporation has put the money up for complete ownership of Tumblr. Although the move was made in an attempt to reach a younger demographic, opponents of the deal are wary due to Yahoo!’s track record of obtaining other sites (e.g. Geocities and Flickr). Despite Yahoo! CEO Marissa Mayer’s pledge “not to screw up” Tumblr, this move will undoubtedly has some sort of effect on the music industry as more than a slew of artists use the site as either their official website and/or primary blog, in some capacity. Will this be the beginning of the end for Tumblr?