News recently broke that WordPress owner is acquiring Tumblr from Verizon. The short-form blogging platform will be sold to WordPress’s owner Automattic for a very knockdown price. According to sources, Tumblr will be sold for a knockdown price of less than $3m to Automattic.
WordPress Owner Acquires Tumblr at Knockdown Price from Verizon
The announcement is a big shock seeing as the short-form blogging platform was bought by Yahoo for S1.1bn in 2013. It was then assimilated into the Verizon fold when Verizon bought Yahoo in 2017. This deal marks a real dramatic change of fortunes for the short-form blogging platform. The short-form blogging platform hasn’t been doing so well lately. They lost almost a third of its traffic since banning all pornography and sexually explicit content in 2018. The short-form blogging platform has also been unprofitable even though it hosts over 450 million blogs.
According to sources, Automattic, its new owners have vowed to maintain the porn ban. The WordPress owners have also vowed to take on all of the short-form blogging platforms 200 employees. This deal and new change follows the departure of founder and chief executive David Karp in 2017
Tumblr is a microblogging and social networking website. It was founded by David Karp in 2007. The service allows users to post multimedia and other content to a short-form blog. Users can follow other users’ blogs. Bloggers can also make their blogs private. For bloggers, many of the website’s features are accessed from a “dashboard” interface. The platform has been most popular among teens and college users. One of the platforms most notable users and fans is Taylor swift.