Yahoo seems to be in the mood for some summer purging. It has brought under the axe a total of twelve of its products and services, which will phase out by the end of September. The list includes AltaVista- web’s primeval text based search engine and the more recent Yahoo Axis.
The popular blogging platform – Tumblr, was recently acquired by search engine giant Yahoo! After days of speculations about the possible sale of Tumblr, Marissa Mayer – CEO of Yahoo confirmed the news via her Twitter account. Around the same time, founder and CEO of Tumblr – David Karp also confirmed the news of the acquisition. Yahoo paid a whopping $1.1 billion to acquire Yahoo and the entire amount was paid in cash.