Yahoo is set to announce “product related news” at an event in New York on Monday 20 May. The tweet from CNBC comes as rumours continue to circulate that Yahoo is on the brink of an acquisition deal with Tumblr, for a reported $1bn.
However, Bloomberg sourced have said that the company will simply reveal an update to Flickr, its existing photo service.
Yahoo to hold a product-related news event in New York City on Monday; CEO Marissa Mayer to speak at event. $YHOO— CNBC (@CNBC) May 17, 2013