Boston, MA 05/21/2013 (wallstreetpr) – Monday’s trading session saw Yahoo! Inc (NASDAQ:YHOO) up by 0.23%. It closed at a price of $26.58 which reached an intraday high of $27.05 before heading down to close at $26.21 per share. In excess of 25.10 million shares exchanged hands in Monday’s trading session, which was above the average volume of 17.72 million that was measured over a 30-day period.
Yahoo will be buying Tumblr for $1.1 billion. The latter is a six-year-old company with over 100 million users but has very low revenue. This deal spotlights the paradigm power-shift that is taking place in the technology business.
Companies such as Yahoo have proved their sustainability and they have enough of cash to spend as well. However, companies such as Tumblr which is a blogging site, have their own special value as well. They are a treasure-house of communities of users that is growing at a phenomenal pace. That has upped the price tags. The prominent companies always fear that they will be left behind in the technology race as people’s online habits tend to evolve very rapidly. The all-cash deal to buy-out Tumblr has been approved by the Yahoo! Inc (NASDAQ:YHOO) board and the Tumbler board has also approved the offer. It is slated to be officially announced on Monday.
YHOO is a digital media company. Via its insights and technology, the company delivers digital content and experiences, on a global level, across various devices. It provides its users with online services and properties. In addition to this it also offers a range of marketing services.
