Former CEO of US technology giant Yahoo Marisa Mayer, talked about his time at the head of the company. Mayer, who held this position from 2012-2017, made striking statements about the acquisitions in an interview with Tech Brew.

Mayer, Yahoo’s popular digital platforms years ago Want to buy Netflix and Hulu?; however, he stated that he bought Tumblr instead.

Yahoo regrets buying Tumblr instead of Netflix and Hulu in 2013

Marisa Mayer

In his statement on the subject, Mayer said: “We wanted a transformative purchase and bought Tumblr. Ironically, at the time we were also considering whether it was possible to buy Hulu or Netflix. At the time, Netflix was worth $4 billion and Hulu was worth $1.3 billion. In hindsight, buy one of these could be so much better” he expressed his regret.

Yahoo launched its social media platform Tumblr in 2013. $1.1 billion he bought. However, it later turned out that this was not a very good investment. As Tumblr’s popularity plummeted, Yahoo added value to the platform in 2016. 230 million dollars as indicated.

Tumblr was also removed from Apple in 2018 for child pornography. The platform later decided to completely ban sexual content. After that, users started to leave the platform and traffic dropped by almost 30%.

In 2019, after Verizon’s acquisition of Yahoo, Tumblr was paid more than the company paid. for a much cheaper amount (although not finalized, reports suggest it’s less than $3 million) to Automatic Inc. sold. All this has revealed that Tumblr is a very bad investment for Yahoo, it would be much better if it bought Netflix and Hulu. So Mayer is absolutely right to regret it.