“A Million Dollars isn’t cool. You know what’s cool? A Billion Dollars,” said Sean Parker to the young Mark Zuckerberg in the Oscar-winning blockbuster, The Social Network. Young entrepreneurs are not only following the advice in terms of dollars but also in numbers on their respective platforms.
After the acquisition of Instagram by Facebook, the biggest news in the tech world was witnessed in the month of May, 2013. It was finally official that Yahoo had acquired Tumblr after official statements from Yahoo CEO Marissa Mayer and Tumblr CEO and Founder David Karp. Yahoo paid approximately $1.1 billion, all of it in cash to Tumblr and promised not to screw it up. The deal has been officially complete after the deal passed regulatory approval procedures.
Yahoo, who claimed that the deal offered “unique opportunities” for both companies, has been struggling to revive its golden age in the tech world. Going further it is being told that Yahoo will soon introduce new features in its search window and catch up on social networking space too.
Like all other businesses, Yahoo wants to be popular among the youth and the acquisition of Tumblr would help the company in attracting young Internet users. A thought expressed by Hari Vasudev, Vice-President and Head of Yahoo! India R&D.
Hari, who was present at the two-day Yahoo Hack India in Hyderabad, expressed that at the moment there are no country specific plans to make Tumblr popular in the country. He further added:
“We have just acquired the company. We are yet to make country-specific plans.”
He also shared at the hackathon – which was taking place outside Bangalore for the first time – that the company is focusing on the mobile Internet users.
“We are focussing on mobile Internet users. We estimate that about 30 crore people will access Internet over their mobile devices by 2015 as against 11.8 crore now globally. This, in turn, would spur the development of apps,” added Hari.
It isn’t surprising to see Yahoo focusing on the mobile segment in a country where the market is booming with speed. However it would be interesting to see how Tumblr would be marketed in a country and pitched against Facebook, that is the leading social network in the country. Tumblr brings 50 billion blog posts, 300 million monthly unique visitors and 120,000 daily signups.
Image courtesy: www.neurope.eu