The secret is out – Yahoo! is purchasing Tumblr for $1.1 billion

Things moved super fast this weekend, as Yahoo!’s board gave the green-light and ever-so-needed approval to acquire Tumblr, for an astonishing $1.1 billion.

As reported on Friday, it was said that Yahoo! was in serious talks to buy Tumblr, as they look to take the next big step in making Yahoo! relevant again, and targeting the younger demographic that Tumblr has in their grasps.

According to All Things D, the Yahoo! board made the decision today and approved the acquisition of Tumblr for an all cash deal, which be announced on Monday. Former Tumblr president John Maloney also tweeted earlier, further solidifying the deal, saying “Off to get a beer and toast myself.” Congrats to him and the entire Tumblr team, but what does this mean for the rest of Tumblr, and their ever so sought out userbase?

If Tumblr user’s have their way, nothing will change, but to think nothing will change would be a pipe-dream to put it bluntly. Things will change, it just depends how much it will change, for better or for worse. But for a $1.1 billion all cash deal, I doubt Yahoo! will just shut down Tumblr, but will hopefully find ways to make it even better than it already is.