Verizon sells Tumblr to WordPress owner Automattic

Tuesday 13 August 2019 | 07:24 CET | News

Verizon has agreed to sell the blogging website Tumblr to Automattic, the owner of online-publishing tool WordPress.com. A source familiar with the deal put the price-tag "well below" USD 20 million, while another source put it below USD 10 million, Axios reported separately. 

Verizon acquired Tumblr as part of the takeover of Yahoo. The site was bought by Yahoo in 2013 for over USD 1 billion. 

Tumblr is home to over 475 million blogs. Automattic will take on about 200 staffers with the deal. 

Verizon began seeking a buyer for Tumblr earlier this year, The Wall Street Journal reported. It discussed a potential transaction with a handful of parties, people familiar with the matter said. The sale is part of efforts to streamline its media business and improve its profitability. 

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Categories: Internet
Companies: Tumblr / Verizon
Countries: United States
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