Automattic, makers of the popular CMS WordPress, have agreed to acquire Tumblr from Verizon.
The once popular photo blog repository was acquired by Yahoo in 2013 for $1.1 billion dollars. Eventually, it moved to Verizon’s group of companies when it acquired Yahoo in 2017.
So how much did Tumblr sell for?
Tumblr to be sold – Photo by Sharon McCutcheon on Unsplash
According to some sources, it sold for well below $20 million; another source places the price tag to below $10 million dollars.
This is an insane loss in value in just six years. While Tumblr has scored no profit, it operates more than 450 million photo blogs. Pornography ran rampant, until Yahoo changed its terms and conditions last year, censoring nudity.
According to the Wall Street Journal, the ban on adult content will be maintained, despite the change in ownership.
The announcement from Tumblr follows:
Today, Tumblr’s owner, Verizon Media, announced that Automattic plans to acquire Tumblr. Automattic is the technology company behind products such as WordPress.com, WooCommerce, Jetpack, and Simplenote—products that help connect creators, businesses, and publishers to communities around the world.
We couldn’t be more excited to be joining a team that has a similar mission. Many of you know WordPress.com, Automattic’s flagship product. WordPress.com and Tumblr were both early pioneers among blogging platforms.
Automattic shares our vision to build passionate communities around shared interests and to democratize publishing so that anyone with a story can tell it, especially when they come from under-heard voices and marginalized communities.
We look forward to continuing to create products that empower your self-expression and sense of community and that build a better, more inclusive internet.
We’re excited for our future together!
<3 Tumblr
