Tumblr: Yahoo Admits Overpaying for Blogging Site

Business Insider: Yahoo CEO Marissa Mayer promised not to “screw up” Tumblr, the hip blogging site, when she acquired it for $1.1 billion in 2013. But now, Yahoo has acknowledged that the acquisition hasn’t quite been the success it had hoped. Yahoo took a $230 million write down on Tumblr and said that the site hadn’t met its revenue targets.