The “highly unprofitable” micro-blogging platform Tumblr has found an unlikely buyer – Automattic, Inc., owners of the world-famous blogging platform, WordPress. It comes barely 2 years after Tumblr was bought over by Verizon.
Here are the media reports….
Verizon sells Tumblr just two years after acquiring social network – The Guardian
Verizon is selling Tumblr, just two years after buying the social network as part of its tumultuous $4.48bn Yahoo acquisition. Founded in 2007 as one of the first “microblogging” services, Tumblr has been acquired by Automattic, the web services company best known for running blogging platform WordPress.com, for an undisclosed price tag.
Link: Verizon sells Tumblr just two years after acquiring social network
via www.theguardian.com
Verizon unloads Tumblr in deal with WordPress owner – Adage.com
Verizon has announced the sale of Tumblr, the fallen online community left over from the Yahoo acquisition, to the owner of WordPress, the website publishing company.
On Monday, Verizon Media said it was unloading Tumblr, but did not disclose the terms of the deal. Axios reported the sale was…
Link: Verizon unloads Tumblr in deal with WordPress owner
via adage.com
Verizon sells Tumblr for a pittance of what it was once worth – Fastcompany.com
In 2013, Yahoo snapped up free blogging platform Tumblr for $1.1 billion. Now it’s worth less than of that sum, with Automattic, Inc., the parent of blogging giant WordPress, buying the site for “well below” $20 million, per a report by Axios. Automattic confirmed the details to Fast Company, and Automattic founder Matt Mullenweg wrote about the acquisition on—where else?—his Tumblr.
Link: Verizon sells Tumblr for a pittance of what it was once worth
via www.fastcompany.com
Automattic’s bargain-bin Tumblr deal plugs right into the WordPress business model – TechCrunch
Tumblr has been an millstone around the neck of its owners, first Yahoo and later Oath and Verizon Media, pretty much since it was acquired in 2013. They never found an answer to the question that new owner Automattic is presumably about to take a crack at: how to make this unruly erstwhile porn factory turn a profit.
Link: Automattic’s bargain-bin Tumblr deal plugs right into the WordPress business model
via techcrunch.com
