Yahoo tried that business model and it didn’t go too well for them. Maybe we’ll see Bending Spoons but Tumblr and Flickr next.

Tumblr was bought by Yahoo then sold for comparative peanuts to Automattic, of Wordpress fame

I may recall wrongly, but IMO Yahoo used to buy hyped companies for a ton of money and let them die, it was the opposite strategy.

Smugmug already bought Flickr a few years ago and that seems to be going well.