Yahoo CEO Marissa Mayer will make some kind of an announcement on Monday.
The press conference was first tweeted by CNBC, and confirmed by other publications.
Obviously, some people think that Mayer will announce that Yahoo is buying Tumblr for as much as $1.1 billion. Word has been circling that the deal that may get approved as soon as Sunday night, according to AllThingsD.
The billion-dollar price tag, if it proves true, seems shocking given that Tumblr has reportedly only generated $13 million in revenue in 2012, after taking $125 million in investor funding.
But, as Business Insider's Jim Edward's points out, Tumblr has become a cool tool among young people. They use it as a blogging platform, a custom-news feed and a social network and it would be easy to monetize with advertising in the right hands.
Then again, Bloomberg says that this hastily scheduled event will bring us news about updates to Yahoo's photo sharing service Flickr.
Stay tuned.
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