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Yahoo officially completes $1.1 billion Tumblr acquisition

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Marissa Mayer Yahoo Tumblr (STOCK)
Marissa Mayer Yahoo Tumblr (STOCK)

Tumblr is now officially part of Yahoo. The two companies announced on Thursday that the $1.1 billion acquisition was completed according to plan. As was previously announced, Tumblr is to remain a separate entity under the continued leadership of CEO David Karp, all as part of Yahoo CEO Marissa Mayer's promise "not to screw it up."

While Tumblr appears to be continuing as strong as ever following its acquisition — it recently introduced a new revenue stream and updated its app designs — it's also seen a number of departures in the month since. Those departures include both Tumblr's media director and creative director, though it's unclear how large of a role they played at the company.