Yahoo CEO Marissa Mayer just shed some more light on how the Tumblr acquisition came to be at the IAB/MIXX conference.
Before Mayer decided to acquire Tumblr and its team, she had only met Karp once, and it was a very brief interaction last December.
Come February, Mayer and Karp met over breakfast. That’s when things really clicked, Mayer said.
Both Karp and Mayer love creativity, she said. They also share similar ideas about being a platform for brands and media companies. They also both think ads should be beautiful, and enjoyable to watch.
At one point during the breakfast meeting in February, Mayer realised that there were at least six “meaty things” Tumblr and Yahoo could accomplish together.
When that happens, Mayer said, that means you should merge. That’s when Mayer decided to acquire Tumblr for $US1.1 billion.