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ALLTHINGSD.COM: Yahoo Tumblrs for Cool: Board Approves $1.1 Billion Deal

Kara Swisher

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MAY 19, 2013 AT 9:34 AM PT

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The Yahoo board has approved a massive $1.1 billion deal to buy Tumblr.

Sources close to the board said the deal was a foregone conclusion and was an unanimous vote by the Silicon Valley Internet giant.

AllThingsD.com initially broke the story of the acquisition efforts and later followed up with details of the price earlier this week. There were no other competing bids, despite reports, to snap up the New York-based hipster blogging service

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