Yahoo's board has unanimously approved the purchase of blogging site Tumblr for $1.1 billion, as the Web portal seeks to bring younger Internet users into the fold. Tumblr CEO David Karp will continue to run the company for the next four years, but Yahoo will likely help develop Tumblr's ad platform. The partnership "would give Tumblr an opportunity to expand their ad packages, and it certainly help them with the sheer organizational needs of ad sales," says Tribal Worldwide CEO Paul Gunning.
What will Tumblr ads look like with Yahoo in control?
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