Tumblr

This week, Yahoo confirmed it would be acquiring visual micro-blogging platform Tumblr in a deal worth $1.1 billion, one of its largest acquisitions to date. The deal is already drawing comparisons to Facebook's $715 million acquisition of Instagram, and it is easy to see why.

Yahoo unveiled an overhauled version of its Flickr photo-sharing application for Google's Android mobile operating system, offering all users a free terabyte of storage.

Yahoo is in advanced discussions to acquire social networking platform Tumblr for as much as $1 billion,  Adweek  reports.  AllThingsD  first reported on the talks, noting the two firms are also mulling strategic alliance and investment options.

Tumblr is rolling out a native application for Microsoft's Windows Phone 8 operating system, complementing its existing mobile social networking apps for Apple's iOS and Google's Android.