Yahoo! CEO Marissa Mayer's bold move to buy online blogging forum Tumblr for $1.1 billion was announced on Monday as she tries to rejuvenate an Internet icon that had fallen behind the times. The deal is Yahoo! 's most expensive acquisition since the California company bought online search engine Overture a decade ago for $1.3 billion in cash and stock. Yahoo'!s board of directors agreed on Sunday to buy the wildly popular blogging platform from the 26-year-old founder David Karp. The deal for Tumblr, which boasts 100million users and 90million posts per day, was struck for $1.1billion cash. Scroll down for Marissa Mayer's GIF
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Yahoo! CEO Marissa Mayer's first words about the deal were: 'We promise not to screw it up'
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Tumblr made $13million in revenue last year
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David Karp founded Tumblr in his mother's Manhattan apartment in 2007
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Site boasts 100million users and 90million daily blog posts
In her Tumblr post, she wrote: 'The combination of @placeholder+Yahoo!