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Tumblr with $ 1 billion loss sold to WordPress mom

2019-08-13T07:22:02.477Z

Telecom company Verizon has sold blog site Tumblr to Automattic, which also owns WordPress. The acquisition would involve less than $ 20 million (17.9 million euros), reports the American news site Axios Monday evening.


Telecom company Verizon has sold blog site Tumblr to Automattic, which also owns WordPress. The acquisition would involve less than $ 20 million (17.9 million euros), reports the American news site Axios Monday evening.

Verizon acquired Tumblr in 2017 with the acquisition of Yahoo. Yahoo bought Tumblr for 1.1 billion dollars (983 million euros) in 2013. This means that the site has now been sold with a loss of more than 1 billion dollars.

The staff is also taken over during the takeover. At the moment, more than two hundred people work at the company. In May this year it was already announced that Verizon was looking for a buyer for the platform.

Although Tumblr still has millions of blogs and users, the popularity of the platform is declining. At the start of this year, Tumblr lost millions of visitors after the platform decided to ban pornographic content.

Automattic's director Matt Mullenweg has informed The Wall Street Journal that he has no intention of changing this policy. He also sees Tumblr as a supplement to the blog services offered via Wordpress.com.

Source: nunl

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