On May 19, 2013, the "Wall Street Journal" reported that Yahoo's board had approved an all-cash deal to purchase the six-year-old blogging website Tumblr. The announcement reportedly signifies a changing trend in the technology industry, as large corporations like Yahoo, Facebook, and Google acquire start-up Internet companies that generate low amounts of revenue as a way in which to connect with sizeable, fast-growing online communities. The "Wall Street Journal" stated that the purchase of Tumblr would satisfy the company's need for "a thriving social-networking and communications hub." Yahoo will pay US$1.1 billion for Tumblr, and the company's CEO and founder David Karp will remain a large shareholder.