Yahoo has entered into the bidding for Tumblr, with an offer of $1.1 billion.

The bid received approval by board members on Sunday, with the Wall Street Journal on Sunday reporting that Tumblr would continue to be run as an independent organisation.

Marissa Mayer, the CEO of Yahoo, announced the successful acquisition on her own Tumblr account, saying: “We promise not to screw it up. Tumblr is incredibly special and has a great thing going. We will operate Tumblr independently."

With over 217 million global users over the past month Tumblr represents an opportunity for Yahoo to recapture a youthful audience, with Yahoo being practically geriatric with its 1995 birth.

The purchase of Tumblr has the potential to increase traffic and advertising potential to the Yahoo brand, as well as adding a ‘cool’ factor that Tumblr brings with its young demographic.

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