“We’re not turning purple,” says Tumblr founder David Karp, who then drops an f-bomb.
This is a ballsy move for Yahoo. It needs a social networking platform, but Tumblr isn’t profitable. Tumblr is going to change soon, a lot. But you have to wonder - if Google can’t get everyone to leave Facebook, how is Yahoo going to do it?
One year ago tomorrow, social networking phenomenon Facebook went public in one of the most highly anticipated initial public offerings of the last decade. Leading up to the IPO, which valued the company at a whopping $104 billion — or 100 times earnings — the hype was intense.
The U.S. Treasury Department suspended sales of securities to local and state governments, the first of several steps it can take to keep funding the government without breaching the nation’s debt limit.