Yahoo’s move aims to make up for years of missing out on the growth of social networks and mobile devices.
The deal would be the largest acquisition of a social networking company in years, surpassing Facebook’s $1 billion purchase of Instagram last year.
Tumblr has over 108 million blogs, with many highly active users.
For Yahoo and its chief executive, Marissa Mayer, buying Tumblr would be a bold move as she tries to breathe new life into the company. The deal, the seventh since Ms. Mayer defected from Google last summer to take over the company, would be her biggest yet.
It is meant to give her company more appeal to young people, and to make up for years of missing out on the revolutions in social networking and mobile devices.
News from Deb: