Thirty Richmond employees will soon be part of one of the world's largest web companies.
Yahoo's board voted Sunday to purchase the social blogging site, Tumblr, for $1.1 billion.
Tumblr had been rumored to be acquired for a while, but it is now official. The company's president sent out a letter to staff just this morning announcing the deal.
In the note, David Karp reassured staff that nothing would change with the Yahoo acquisition.
"We're not turning purple. Our headquarters isn't moving. Our team isn't changing. Our roadmap isn't changing," wrote Karp. "And our mission - to empower creators to make their best work and get it in front of the audience they deserve - certainly isn't changing."
While the note may be reassuring to the approximately 150 employees at the headquarters in New York, it doesn't mention the company's only other office, located in Richmond in the Corrugated Box Building. Tumblr has not responded to an inquiry about how the acquisition will effect the Manchester office.
The company has only been in Richmond for two years. Then again, its only just celebrated its sixth anniversary.
With more than 100 million blogs, and more than 80 million posts a day, the purchase is expected to make Yahoo stronger and more appealing to millenials.
However, Tumblr hasn't yet been profitable and doesn't have any advertising revenue. So, even if Yahoo and Tumblr say they don't expect any changes, they will have to justify spending more than $1 billion somehow.
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