Looks like the rumors were true. Yahoo is purchasing that wacky blogging service Tumblr for a boatload of cash. I’m guessing somewhere in Yahoo they must have a plan to monetize Tumblr, because as you know, a billion dollars is some serious cash. I’m not sure why Yahoo wanted it so badly, but maybe they feel it will make them seem hip again. This may work out well for Tumblr users, at least in the short run it won’t end up like Posterus did.