Yahoo, the former Internet giant, has been at the bottom of the world wide web food chain for a while now, scraping for visitors with lesser known sites and depending on their die-hard users to keep them even a little bit relevant. Enter Marissa Mayer, the newly appointed CEO who is determined to turn the bad situation with Yahoo around by introducing social media to the family. In the time she has headed Yahoo, and among all the many internal and external changes she’s made throughout the company, she has managed to snag huge blogging platform Tumblr.
Tumblr’s founder and CEO, 26-year-old David Karp, seems pleasantly thrilled with selling his baby to Yahoo for a whopping $1.1 billion, despite some whining from the people who make Tumblr – the bloggers. He maintains that nothing about the beloved blogosphere will change when Yahoo adopts them. On the other hand, the sale of his famed social networking site benefits Karp on most ends because he gets to keep his position of CEO and a whole lot of money. Yahoo also wins here as, according to Marissa’s vision, they will probably appeal to the younger internet users that they had missed out on all these years through their ownership of Tumblr.
There have been debates as to whether Tumblr will actually be able to retain many of its users following the big announcement. Some of the faithful followers who enjoy the many freedoms Tumblr offers, like the relatively loose posting laws that allow just about anything, have already been reported to jump ship. WordPress, on the other hand, is getting the better end of this deal as far as bloggers abandoning the Tumblr-Yahoo ship are concerned.
Tumblr is an extremely popular blogging platform and whether they remain the fan favourite or not, will depend on how many ads and marketing they cram onto their bloggers’ pages – and how many of those bloggers just won’t have that. But it is clear that this was a good move for Yahoo because they are once again making headlines and getting with the ‘in’ social networking crowd. Marissa Mayer’s vision cannot be downplayed, given Yahoo’s position in the past, and her understanding of the power of social media and social networking might just be what the sleeping giant needed to get in the game again.
This is a Timeline of Mayer’s acquisitions so far
Timeline Source: International Business Times.