Yahoo! snap up Tumblr

Yahoo! has  announced that it had purchased blogging platform Tumblr for $1.1 billion. Announcing the purchase on Tumblr  CEO Marissa Mayer said "We promise not to screw it up. Tumblr is incredibly special and has a great thing going. We will operate Tumblr independently. David Karp will remain CEO. The product roadmap, their team, their wit and irreverence will all remain the same as will their mission to empower creators to make their best work and get it in front of the audience they deserve. Yahoo! will help Tumblr get even better, faster". And TechCrunch reports that Yahoo’s Flickr photo-sharing service is providing one full terabyte of storage space to users. In addition, Flickr is offering full resolution photo storage service. Most photo sharing services offer a few dozen gigabytes, or an unstated upper limit as in the case of Instagram and other mobile services