Yahoo has recently approved the $1.1 billion dollar deal to buy the blogging site, Tumblr. Word soon started getting around that the CEO of Yahoo, Marissa Mayer was rumored to have been communicating with David Karp, the CEO of Tumblr.
Yahoo is reportedly holding an event on Monday, May 20th, in New York to make an announcement of the news. Buying the Tumblr site would be a huge deal for Yahoo, who will be able to reach young active online users through the social network.
This is not the first major change Mayer has made for Yahoo since becoming CEO last summer. She has also helped develop a new homepage for the site as well helping renew the Flickr service. Mayer is trying to generate new traffic to the site and get users excited about using Yahoo again.
Read more at CNN.com