Yahoo confirms $1.1B purchase of Tumblr, “promises not to screw it up”

UPDATE: We reported yesterday that Yahoo was on the verge of announcing an acquisition of Tumblr. Today, Yahoo confirmed its plan with a somewhat unusual press release titled “Yahoo! to Acquire Tumblr/Promises not to screw it up.” The announcement’s text has a playful response to Tumblr users who complained about the acquisition. “Per the agreement [...] Yahoo confirms $1.1B purchase of Tumblr, “promises not to screw it up” | www.limit.ws