Internet search company Yahoo! confirmed rumors on Monday with the announcement that it is purchasing the blogging site Tumblr in a US$1.1 billion deal. Yahoo! said Tumblr will continue to operate as an independent company and that it doesn't have any plans to "screw it up."
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Yahoo! says the deal is about enhancing user experiences for its users and Tumblr users. That may be the case, but it sure feels like a great way for Yahoo! to build a captive audience for advertising revenue tied to over 50 billion blog posts.