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Yahoo to buy blogging platform Tumblr

20 May 2013 Last updated at 23:06 BST

Tumblr, the blogging site set up by a 20 year old only six years ago, has been bought by the internet giant Yahoo for more than £700 million.

Its founder David Karp will remain in charge and as part of the agreement Yahoo has promised not to 'screw up' Tumblr.

The BBC's Technology Correspondent, Rory Cellan-Jones, explains the deal.