Verizon Sells Tumblr to WordPress Owner

Verizon Sells Tumblr to WordPress Owner

Verizon company agreed to sell Tumblr to the owner of WordPress Automattic Inc., but the price of the deal was not disclosed. It is worth remarking that Tumblr was acquired by giant Yahoo in 2013 for $1.1 billion, and Verizon paid less than $3 million for it in 2017. Now, according to unconfirmed information, the deal price did not exceed $20 million.

Once Tumblr was an extremely powerful company in the blogging and social networking industries, but after the uprise of projects such as Instagram, Snapchat and YouTube, Tumblr began to lose its strength. But note that Tumblr still has a fairly active and dedicated community.

David Karp, who founded Tumblr in 2007, left the company in November 2017. He did not mention his reasoning at the time, but wrote on a personal blog that he believed in the future of the company.

“I beg you to understand that my decision comes after months of reflection on my personal ambitions,” Karp wrote at the time, “and at no cost to my hopefulness for Tumblr’s future or the impact I know it can have.”

Tumblr has a mobile interface that new owners can use on their own mobile platform WordPress. It is not yet clear which services both companies can use, but given that both of them are blogging platforms to some extent, they have something to experiment with.

Leave a Reply

Your email address will not be published. Required fields are marked *