Yahoo Officially Completes Tumblr Acquisition

What new in yahoo and tumblr and what it is all about? 

Yahoo's acquisition of Tumblr is a done deal.

In a Thursday Tumblr post, Yahoo CEO Marissa Mayer announced that the Web giant has officially completed its acquisition of Tumblr. The news comes one month after Yahoo first announced plans to purchase the popular blogging platform for $1.1 billion.

Mayer reiterated that Tumblr will continue to operate as a separate business, led by David Karp as CEO.

"Their product roadmap, their team, and tone will all remain the same as will their mission to empower creators and curators alike to do what they love best: create," Mayer wrote. "David and his team are redefining creative expression online, and we can't wait to see what they come up with next."

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While Mayer called this "an incredibly exciting day for Yahoo and Tumblr," not everyone is as pleased with the deal. Following news of the acquisition, WordPress founder Matt Mullenweg claimed that many Tumblr users are jumping ship to his blogging platform to avoid dealing with Yahoo.

In addition, two key Tumblr employees have left the company since the deal was announced. Earlier this week, Tumblr's media director, Mark Coatney, announced his resignation after three years with the blogging service, simply noting that it was "a good time" to leave. Coatney's departure came after the exit of Tumblr's creative director and fifth employee, Jacob Bijani, who called it quits late last month.

In a blog post last month, Tumblr founder David Karp tried to assuage users' fears. "We're not turning purple. Our headquarters isn't moving. Our team isn't changing. Our roadmap isn't changing... We won't let you down," he said.