From The Verge: Verizon has agreed to sell Tumblr to WordPress owner Automattic Inc. for an undisclosed amount, The Wall Street Journal reports.
Verizon, which first acquired Tumblr in 2017 after it purchased Yahoo, started to explore a sale earlier this year. Automattic reportedly bought Tumblr for less than $3 million, according to Axios, a stunning drop in value from the $1.1 billion Yahoo paid for it in 2013.
“Tumblr is a marquee brand that has started movements, allowed for true identities to blossom and become home to many creative communities and fandoms,” Verizon Media CEO Guru Gowrappan said in a statement. “We are proud of what the team has accomplished and are happy to have found the perfect partner in Automattic, whose expertise and track record will unlock new and exciting possibilities for Tumblr and its users.”
Although it makes sense. Tumblr was once a hugely influential force in the blogging and social media sphere, but it become less so under Yahoo and then Verizon’s ownership. Meanwhile, platforms like Instagram, Snapchat, and YouTube moved to fill the void and become much larger cultural forces as a result. Still, Tumblr does have a very active and dedicated community.
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