Verizon says it has agreed to sell off Tumblr to Wordpress' parent company, Automattic. This will mark the third company to own the popular blogging site in six years.
Verizon said Monday it has agreed to sell Tumblr to Automattic, the parent company of Wordpress.com. Terms of the deal were not disclosed.The move will make Automattic the third company to own Tumblr in just six years. "Tumblr is one of the Web's most iconic brands," Automattic CEO Matt Mullenweg said in a statement."It is an essential venue to share new ideas, cultures and experiences, helping millions create and build communities around their shared interests.
It was an ambitious bet to revive Yahoo's fortunes by attracting a younger generation of hyper-engaged users. Read MoreMayer promised at the time"not to screw it up." By 2016, however, Yahoo was forced to write down most of Tumblr's acquisition value. Part of that writedown stemmed from Yahoo's struggle to meet an ambitious $100 million sales goal for Tumblr.In 2017, Yahoo — and Tumblr — were officially acquired by Verizon.
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Verizon sells Tumblr to Wordpress owner six years after Yahoo bought it for $1.1 billionVerizon is selling Tumblr to Automattic, the company that owns WordPress.
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Verizon Sells Tumblr to Company That Owns WordPressVerizon announced a deal to sell Tumblr — the blogging site Yahoo acquired for $1.1 billion six years ago — to Automattic, the company that owns and operates online-publishing site Word…
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Verizon To Sell Tumblr To Wordpress OwnerThe once-prominent online blogging network was sold for an undisclosed amount.
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Verizon sells Tumblr to Wordpress owner six years after Yahoo bought it for $1.1 billionVerizon is selling Tumblr to Automattic, the company that owns WordPress.
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Verizon Sells Tumblr to Company That Owns WordPressVerizon announced a deal to sell Tumblr — the blogging site Yahoo acquired for $1.1 billion six years ago — to Automattic, the company that owns and operates online-publishing site Word…
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