NEW YORK (TheStreet) –– Yahoo! (YHOO - Get Report) is turning to its Tumblr platform as it seeks to boost engagement for Yahoo! Finance, allowing investors such as Carl Icahn, Jim O'Shaughnessy, Jeffrey Kleintop, Josh Brown and more to publish expert-generated content.
"We're opening up the platform to experts in the field," said Phil Pearlman, Interactive Editor for Yahoo! Finance in a telephone interview with TheStreet. "We're utilizing and employing the power of Tumblr to do that. It's a cross between social and expert generated content, and we'll have lots of content, expert-generated content."
This marks the first time that Yahoo! is leveraging Tumblr for finance, as the initial group of 30 contributors created their own Yahoo! Finance-themed Tumblr blogs to publish original content, which is pulled directly onto Yahoo! Finance quote pages, as well as the homepage.
Yahoo! purchased Tumblr for $1.1 billion in cash and stock in May 2013.
Yahoo! continues to seek ways for increased engagement, as the company's core business (Display and Search) remains stagnant. On Yahoo!'s second-quarter earnings call, CEO Marissa Mayer stated the transformation is not a singular event, but will continue to take time, for quarters and years to come.
"It is a series of events and quarters, some more challenging than others and some more successful than others and it will take time," Mayer said on the call. "In the case of Yahoo!, I have stated in the past that we believe a transformation of this size and scale will take multiple years and we continue to believe that is the case today."
In the second quarter, Yahoo! rolled out native Tumblr-sponsored posts, as it starts to monetize the platform.
With that in mind, the user-generated content from the likes of Icahn, Kleintop and others will have no ads "for the foreseeable future" on the Tumblr pages themselves, Pearlman noted, but there will continue to be advertising on the Yahoo! Finance pages.
The Tumblr blogs will be available at Yahoofinancecontributors.tumblr.com, and will go live, starting today.
--Written by Chris Ciaccia in New York
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