Yahoo Inc. reached a deal to buy the popular blogging service Tumblr for $1.1 billion.

Here is some background on Tumblr, where Generation Y is sharing everything from snaps of their pets to videos, and stories from Dadaab, a Kenyan refugee camp.

FOUNDED: February 2007 by software consultant David Karp and web developer Marco Arment.

HEADQUARTERS: New York

LEADERSHIP: Founder David Karp, 26, is CEO. He owns a 25 percent stake in the company.

EMPLOYEES: 175

FINANCIALS: Tumblr's 2012 revenue was $13 million. The company's net worth was estimated by Forbes at $800 million in 2011.

USERS: 54 million

DAILY POSTS: 70 million

MONTHLY PAGE VIEWS: 17.5 billion

LANGUAGES: Localized in 12 languages, including Polish, Turkish and Japanese.

BIG MOMENTS: Singer Frank Ocean announced that his first love was a man on his Tumblr blog. Singers Beyonce and Jay-Z posted the first photos of their new baby on Tumblr.

SMALL DELIGHTS: "Sad Desk Lunch," where users post photos of the lunches they're eating at their desks. "Same Ocean, Different Day," where users from all over the world post photos of the Pacific Ocean.

Sources: Tumblr; Forbes.