Yahoo buys Tumblr

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Yahoo has announced it is buying networking and blogging website Tumblr.

The deal is worth over a billion dollars, over 850 million Euros, to be paid in cash.

Tumblr claims to have over 108 million blogs and its younger user base may help to bolster Yahoo's cool factor.

It the largest acquisition for new Yahoo boss Marissa Mayer, since taking the helm of the company last summer.
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