Search the Community
Showing results for tags 'tumblr'.
Yahoo is writing down the value of its Tumblr acquisition by $482 million, citing lower projections for the social network's future performance, the company announced Monday. This comes after Yahoo took a $230 million similar writedown last quarter on its Tumblr buy. In total, Yahoo has now written down more than half of Tumblr's value since acquiring it for $1.1 billion in 2013 -- rendering Mayer's biggest acquisition to date effectively worthless. Part of that writedown stems from Yahoo's struggle to meet an ambitious $100 million sales goal for Tumblr -- and part can be trace