Three years later, Yahoo had a market capitalization of .24 billion.
Tumblr's CEO and founder David Karp would remain a large shareholder.
The announcement reportedly signified a changing trend in the technology industry, as large corporations like Yahoo, Facebook, and Google acquired start-up Internet companies that generated 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 Yahoo's need for "a thriving social-networking and communications hub." Data collated by com Score during July 2013 revealed that more people in the U. visited Yahoo websites during the month than Google; the occasion was the first time that Yahoo outperformed Google since 2011.
Its stock price skyrocketed during the dot-com bubble, Yahoo stocks closing at an all-time high of 8.75 a share on January 3, 2000.
However, after the dot-com bubble burst, it reached a post-bubble low of .11 on September 26, 2001. Over the next four years, it developed its own search technologies, which it began using in 2004.
Answers and Yahoo Games to provide news and related content.