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Yahoo's Subsidiary Tumblr Enters the Video Streaming Space
Parents hardly stop their children in their attempts to prosper even if they themselves are struggling. The same holds true for a parent company and its subsidiary.
Yahoo! Inc. owned micro blogging and social networking platform Tumblr has decided to test the live video streaming waters, even as Yahoo is neck-deep in troubles with its core business and has put itself up for sale.
Tumblr on Tuesday announced that it will launch a live video feature that will enable users to share live video streams from Alphabet Inc.’s (GOOGL - Free Report) YouTube, Verizon Communications Inc.’s (VZ - Free Report) Huffington Post, Kanvas, YouNow and Upclose. Notably, Twitter, Inc. , Amazon and Facebook are not a part of this team yet.
Tumblr is also reportedly in talks with a number of media partners like Refinery29, Mashable and MTV who are expected to stream live content and events using Tumblr’s partner services, going forward.
How Does it Work?
You can connect your Tumblr account with your account on any of Tumblr’s partner sites through its app. When you share a live video and tap the Tumblr sharing button, your followers on the platform will get a push notification if they are online.
The video will get placed at the top of the follower’s dashboard. They can then play, post and repost this video.
YAHOO! INC Price
YAHOO! INC Price | YAHOO! INC Quote
About Tumblr
Tumblr, Yahoo’s bold bet under CEO Marissa Mayer, was acquired for $1.1 billion in 2013. It was Mayer’s move to revitalize Yahoo with a live blogging company under its fold that had strong visitor traffic.
Tumblr showed some prospects earlier but eventually failed to live up to its parent’s expectations, failing to hit the $100 million revenue target set in 2014. Yahoo has recently written down its value by $230 million.
So it would be interesting to see how the recent move is going to help Tumblr. After all, it’s better late than never.
Currently, Yahoo is a Zacks Rank #3 (Hold) stock.
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