Citizens of the Internet, we’ve reached a milestone: This may be the first major web acquisition announced via GIF.
Today, Yahoo and Tumblr officially revealed that the former is buying the latter for a cool $1.1 billion. (Guess all those Game of Thrones memes are worth more than just a chuckle.) As the biggest acquisition Yahoo has made since ex-Googler Marissa Mayer became its CEO last summer, this has the potential to massively change both companies forever. Since the announcement, though, both Mayer and Tumblr founder David Karp have largely refrained from trumpeting what the future may hold. Instead, they’ve spent most of the day asking Tumblr users not to panic — and reassuring them that the site will retain its idiosyncratic identity.