Yahoo buying Tumblr for $1.1 billion, vows not to screw it up

May 20 2013 9:07AM EST | Source: REUTERS Technology

(Reuters) - Yahoo Inc said it is acquiring blogging service Tumblr for $1.1 billion cash, a bold bet by Chief Executive Marissa Mayer to revitalize the struggling Internet pioneer by co-opting a Web property with strong visitor traffic but little revenue.