Yahoo! Inc. (NASDAQ:YHOO) CEO Marissa Mayer has defended the $1.1 billion the company paid for the blogging service Tumblr. The executive made the comments while speaking to CNBC earlier on Tuesday. Yahoo! Inc. (NASDAQ:YHOO) confirmed that it had agreed to acquire Tumblr last weekend. In the interview on CNBC, Mayer said that the acquisition of Tumblr was an important part of “enhancing our growth story.” The $1.1 billion price tag was worth it for Yahoo! Inc. (NASDAQ:YHOO) to help the firm “move faster as a company.” Yahoo has had a difficult time keeping up with web trends in recent years, and…
This content is exclusively for paying members of Hedge Fund Alpha
Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha
Don’t have an account?
Subscribe now and get 7 days free!
