WordPress owner buys Tumblr from Verizon for nominal amount

1 Mins read
Tumblr acquisition

Automattic, the parent company of WordPress, is acquiring Tumblr from Verizon Media at an undisclosed amount.

Tumblr is a leading microblogging and social networking platform that allows users to share content in the form of short blog posts. It has a wide community of around 475 million users.

Tumblr had been previously acquired by Yahoo for $1.1 billion in 2013. Moving ahead, Verizon Communications acquired Yahoo in 2016 for $4.86 billion.

At the time of closure of Yahoo’s acquisition in 2017, Tumblr and other properties were combined into a new business unit called Oath Inc. In November last year, the Oath was rebranded to Verizon Media Group.

And now, Verizon Media Group is selling the Tumblr to Automattic.

“Tumblr is one of the Web’s most iconic brands,” said Automattic CEO Matt Mullenweg.

“It is an essential venue to share new ideas, cultures and experiences, helping millions create and build communities around their shared interests. We are excited to add it to our lineup, which already includes, WooCommerce, Jetpack, Simplenote, Longreads, and more.”

According to the Wall Street Journal, Verizon sold Tumblr to Automattic at a nominal price. It is because of the tough competition and dominance by other similar platforms like Instagram, YouTube, and Snapchat. Tumblr still has a big community of active users and Automattic might work on it by making it a complementary site to WordPress.

Also read: Amazon is acquiring storage startup E8 Storage for $60 million

“Today’s announcement is the culmination of a thoughtful, thorough and strategic process,” said Verizon Media CEO Guru Gowrappan.

“Tumblr is a marquee brand that has started movements, allowed for true identities to blossom and become home to many creative communities and fandoms. 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.” 

Leave a Reply

Your email address will not be published.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

+ fifteen = 23