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Yahoo to buy Tumblr

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The decision-making caucus at Yahoo Inc. now sees investing in social blogging media as the new opportunity to steer the company towards greater fortunes. In the first of the series, it will invest as much as $1.1 billion to buy famous Tumblr, a short-form blogging service. The social blogging network currently glories in staggering 108 million blogs with nearly 51 billion posts.

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