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Yahoo's investments in Flickr and Tumblr are steps toward fixing gaps in its business, but it's only the beginning of a longer journey, Mark Mahaney of RBC Capital Markets says.

Yahoo announced it bought the blogging site Tumblr for a whopping $1.1 billion on Monday, May 20.

Tumblr, used by approximately 8 percent of online users, skews heavily toward the younger crowd.

1. Sunnyvale, California-based Yahoo will move its 500 New York City employees into new offices into the former offices of The New York Times in Times Square.

Matt is a Senior Editor at TechCrunch. Matt Burns is a family man first and attempts to be a writer second.

With its $1.1 billion Tumblr acquisition , Yahoo has pledged to keep the blogging site alive, though Tumblr users might eventually see Yahoo ads in their blog feeds, and Yahoo users could see Tumblr posts on the Yahoo homepage newsfeed.

U.S. stocks traded slightly higher, grinding further into all-time high territory after a slow start Monday with Yahoo Inc.'s acquisition of Tumblr and other deal news dominating investor attention.

Top Stories In its quest for cool, Yahoo nabs Tumblr. Yahoo's board approved the $1.1B acquisition of popular blogging service Tumblr Sunday, the latest step in Marissa Mayer's quest to give the internet heavyweight a much-needed makeover.

European stocks are expected to open higher Monday, after a yet another new record close on Wall Street Friday, but the dollar is sharply weaker after Japanese economy minister, Akira Amari, commented "it's being said that the correction of the strong yen is largely completed.

Yahoo! Inc. 's board has approved a $1.1 billion acquisition of Tumblr Inc., a service that hosts 108 million blogs, the Wall Street Journal reported, citing unidentified people familiar with the matter.

Yahoo will incorporate selected tweets into the news feed on its redesigned home page through a new partnership between the Web portal and the microblogging service.

Yahoo Japan Corp. has said it suspects up to 22 million user IDs may have been stolen during an unauthorised attempt to access the administrative system of its Yahoo! Japan portal.

In a possible move aimed at snatching up the young social media demographic, Yahoo has had "serious talks" about acquiring Tumblr, with the price tag reportedly being as high as $1 billion.

Two years ago, Tumblr's overabundance of porn was well-documented . Today, nothing has changed: it's still a JPEG sex bonanza.

Two Mexican firms embroiled in a contractual dispute with Yahoo Inc will appeal a court ruling that overturned an earlier $2.75 billion judgment in their favor, a director of the companies said on Friday.

Yahoo CEO Marissa Mayer is promising to unveil "something special" Monday in New York as she tries to attract more traffic and advertising to the Internet company.

Don't look now but it looks like Yahoo's mobile apps push is bearing fruit, at least according to new data from Onavo .

Yahoo!, The Christian Post and Marin Independent Journal say Disney succumbed to pressures and removed the adult Merida image from Disney's princess site.