Yahoo! Inc. (NASDAQ:YHOO) CEO Marissa Mayer has defended the $1.1 billion the company paid for the blogging service Tumblr. The executive made the comments while speaking to CNBC earlier on Tuesday. Yahoo! Inc. (NASDAQ:YHOO) confirmed that it had agreed to acquire Tumblr last weekend.
In the interview on CNBC, Mayer said that the acquisition of Tumblr was an important part of “enhancing our growth story.” The $1.1 billion price tag was worth it for Yahoo! Inc. (NASDAQ:YHOO) to help the firm “move faster as a company.” Yahoo has had a difficult time keeping up with...
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