At 9 A.M. eastern, Yahoo hosted a conference call to discuss its $1.1 billion acquisition of Tumblr.
Here's what we learned:
-Tumblr is going to run separately from Yahoo. CEO David Karp will report directly to Mayer. The brands will not co-mingle.
-Yahoo plans to retain all Tumblr employees. Yahoo will help it hire more engineers and ad sales people.
-Yahoo believe the deal pushes it over 1 billion users.
-The deal is $1.1 billion, payable almost all in cash. Karp will get some Yahoo stock.
-Yahoo does not expect Tumblr to materially contribute to its revenues until sometime in 2014.
-Mayer says that Tumblr is ahead of Yahoo in mobile.
-Mayer says Yahoo hopes to get search traffic from Tumblr users.
-Yahoo will feature Tumblr blogs on its media properties. She says this should boost Tumblr's traffic and make Yahoo's media properties more attractive to Tumblr's demographic.
-Karp missed the earnings call because he had to host an "all-team" meeting with employees. Mayer is going to start calling Yahoo all-employee meetings all-team meetings, too.
-Karp held a meeting with his senior staff on Friday night, and all of them "signed on" to the deal.
-Mayer isn't worried about all the NSFW content on Tumblr. "The width and breadth of content on Tumblr is what's exciting and has allowed it to reach more users."
-Yahoo will bring in-stream ads to the Tumblr dashboard, at some point. It will also help Tumblr bloggers sell ads, if they want to.
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