This is Yahoo's New York minute. OK, that may not be the right use of the phrase, but after the company announced a $1.1 billion (around £725 million/ AU$1.1 billion) buy of Big Apple-based Tumblr, CEO Marissa Mayer followed it up this afternoon with more NYC news.

"We've been looking for a home in New York," Mayer said during a Yahoo event today. "And I'm happy to say, we've found it."

The company will be opening an office in the old New York Times building, housing its 500 area employees with expansion room for 200 more.

New York City Mayor Michael Bloomberg hopped on stage to christen the move, opening his remarks with "from one mayor to another."

Mayor Bloomberg
Funny guy

"This shows that New York is a big player in the tech industry," he said.

Tumblr on

The Tumblr-buy cat jumped out of the bag earlier today, well before Yahoo's 5 p.m. ET event.

Mayer reiterated news that Tumblr will remain largely independent, even holding onto its own offices as Yahoo moves into its new Time Square property.

The CEO also stated that Yahoo has no plans to impose content restrictions, meaning that all Tumblr's porn is - for the moment - safe. Just look for the NSFW label, folks.

"Almost all UGC [user generated content] sites have issues with adult content," Mayer said. "On Tumblr, there is actually less of that than almost any of its peers. It's important to have tools like NSFW for people who are looking for that content can find it and those who don't want to won't
stumble into it."

  • There's more to Yahoo's New York event than new headquarters. Read about the massive Flickr redesign

Libe Goad contributed to this report