After raising $125 million in funding, Tumblr had just $16.6 million left when Yahoo acquired the company for $1.1 billion in May, according to Yahoo’s 10-Q form filed with the SEC (via All Things D).
Considering the size of Tumblr, which had 175 employees in May, the company’s runway was quite short by the time it signed with Yahoo. Sources suggested prior to the deal that Tumblr’s cash reserves would only last for a few months of operations.
So. Much. Tech.
Some of the biggest names in tech are coming to TNW Conference in Amsterdam this May.
Also worth noting from the 10-Q, Yahoo spent $54 million in other acquisitions during the first half of the year.
Featured image: joshwept