Yahoo may bid for Tumblr

Investor's Business Daily

Following reports that it may either buy or invest in photo blogging site Tumblr, Yahoo (YHOO) on Fri. announced that CEO Marissa Mayer will unveil a mystery product at 5 p.m. ET on Mon. Tumblr reportedly has a value of at least $800 mil, and an AdWeek report estimated it could fetch as much as $1 bil. Yahoo has bought several companies since Mayer became CEO last July, including Summly, Astrid and Jybe. Shares fell 0.2% to 26.52.

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