Economy

Verizon to sell Tumblr

Verizon to sell Tumblr”

In an announcement today, Automattic, the company that owns WordPress, revealed that it has agreed to purchase Tumblr from Verizon, though the price it paid hasn't been disclosed. Verizon actually started seeking a buyer for the service earlier this year, and Automattic was one of the interested customers, along with... "We are proud of what the team has accomplished and are happy to have found the flawless partner in Automattic, whose expertise and track record will unlock new and exciting possibilities for Tumblr and its users", Verizon Media CEO Guru Gowrappan said in a statement.

Six years after it was sold to Yahoo for over $1 billion, Tumblr is set to be sold again for a little over what it costs to buy a house in Sydney. However, traffic to the blogging platform fell after it enacted a ban on adult content last December that forced porn enthusiasts and erotic artists off from the site.

As Yahoo and its assets have been chopped up and reformed by Verizon (neé Oath), there's been speculation around the possible sale of Tumblr - informed by high-level exits within the company, and finally confirmed by Verizon itself this may when it announced the site was up for auction.

Tumblr is getting a new owner. But according to The Wall Street Journal, the platform's ban on adult content will remain in place. The companies' announcement said the deal is "subject to customary closing conditions".

'It is an essential venue to share new ideas, cultures and experiences, helping millions create and build communities around their shared interests'.

In addition to WordPress, Automattic also owns e-commerce platform, WooCommerce, and note-taking application Simplenote.



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