Yahoo ‘screws it up,’ writes down $482 million of Tumblr
Yahoo is writing down the value of its Tumblr acquisition by $482 million, citing lower projections for the social network’s future performance, the company announced Monday. This comes after Yahoo took a $230 million similar writedown last quarter on its Tumblr buy. In total, Yahoo has now written down more than half of Tumblr’s value since acquiring it for $1.1 billion in 2013 —...
