Yahoo admits this blog is 75% air

Well, kind of.

The tech world reeled when Yahoo announced in May that it would buy Tumblr, the weblogs platform favored by those tech-savvy young ‘uns, for a total of $1.1 billion.

Five intriguing tidbits about the deal came out in Yahoo’s quarterly financial documents, which landed last night.

Most eye-popping: Yahoo bought Tumblr for $990 million (the remainder of the billion-plus total goes to founder David Karp and other Tumblr employees), and an incredible $751 million of that value was attributed to “goodwill.”

Goodwill is an accounting term for the worth of an intangible asset blahblahblah, and in this case it means brand value. So 75% of Tumblr’s value lies in its cool factor. (More details in our main CNNMoney story here.)

It’s no secret that Yahoo could use an injection of cool. Plus, Tumblr captures users in two fields — social and mobile — that Yahoo is looking to grow.

But Tumblr might even be the luckier one in this deal, as the 10-Q docs revealed the site was running out of money. Tumblr had less than $17 million in cash on hand when Yahoo bought it.

Stripping out its goodwill value, Tumblr had only $353 million in other assets, as well as liabilities of almost $114 million.

Founder Karp — who will get $81 million in stock-based comp and cash as long as he stays at Yahoo for four years — said in the past that advertising “turns our stomachs.” But Tumblr began to soften on that point recently.

And anyway, being bought for a billion dollars usually forces one to change one’s mind on such things.

Indeed, even as Mayer assured Tumblr users that the site will maintain its independence, she also promised analysts back in May that Yahoo will “monetize” Tumblr. After all, these cat gifs were expensive! -Julianne

This isn’t a bug (see my reblog), it’s an ill-advised stunt by Tumblr. Me complaining about it earlier got me a snarky response from one of the site designers (I’m guessing the sharp crayon whose idea or implemenation this was) that did nothing but demonstrate that he hadn’t actually read my extremely brief post.
Blogger Principia’s take on Tumblr’s blackout campaign. Here’s her post about her e-mail with Tumblr

David Karp, what are you doing in my GQ?

As Stacy would say, it has been A Day (thanks for the late Friday newsdump, Groupon! Those financials sure are purty!).

I left my desk today for lunch in an effort to clear my head, and I brought along this month’s GQ. I flipped through idly, with visions of sugarplums and SEC filings dancing through my head, when I saw it! David Karp, all up in my magazine:

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Mr. Karp — who is, of course, the founder of Tumblr — was staring right back at me in a comfy-looking cable-knit sweater from superhot Japanese clothing shop Uniqlo.

It reminds me of the Gap ads a few months (a year?) ago that featured Dennis and Naveen from Foursquare. Forget actors and supermodels — attractive tech stars are the new faces of fashion! -Julianne

Tumblrs we love: Emo Juan Uribe speaks

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Editor’s note: The following is a guest post from tech video producer Jason Sanchez, who sends us rockin’ ideas for the Tumblr all the time.

Juan Uribe is sad.  Despite winning a World Series ring with the San Francisco Giants last year, Uribe has gone emo — on Tumblr, of course.  The current Dodgers utility infielder is shown sitting against a wall with a dejected look on his face in a series of topical posts on emojuanuribe.com

As a huge Dodgers fan, I wanted to find out why Uribe has grown so sad with his new team.   So I did what any journalist would do: I asked him (or at the least his emo Tumblr self).  Emo Juan Uribe admitted he doesn’t usually do interviews, mostly because no ever asks him.  What follows is an unedited interview with the emotionally-sensitive infielder.

JS: Why did you choose to create a Tumblr dedicat

ed to the ongoing sadness of Juan Uribe?  

EJU: You think just because I’m a jock that I don’t appreciate the beauty of creative expression? Like Steinbeck said, “In utter loneliness a writer tries to explain the inexplicable.” Plus, Bud won’t let us tweet during the games.

JS: Uribe won a World Series ring last year and has overall had a pretty respectable, if somewhat unremarkable career.

EJU: I’m sure there’s a question in there somewhere, Jason. Or do you just get off to insulting people via email?

JS: So why is Juan Uribe so sad?

EJU: There it is. Why is Emo Juan Uribe so sad? Why does cancer exist? Why did 20 million men, women and children die of starvation last year while Sex and the City 2 grossed $288 million? Why don’t families eat together anymore? Why does Nickelback sell more albums than Fleet Foxes? Why did the same country that invented space travel also invent the sitcom Alf? Sorry, what was the question?

JS: What can snap Uribe out of his funk?

EJU: Wow, Jason. You’re really getting comfortable around me. The answer to that, Sanchez, I guess would be, getting the chance to play in a real baseball town, like St. Louis. There’s no one famous wearing #5 in St. Louis, is there?