According to the Wall Street Journal, today that Yahoo’s board approved the $1.1 billion purchase of Tumblr. Yahoo was said to be in talks with Tumblr for the acquisition but it doesn’t mean that the company will accept the $1.1 billion offer. There are many reports that are saying the bid is too low and companies like Facebook and Microsoft are also eyeing Tumblr. Those companies wouldn’t have a problem offering more money for the the social blog.
