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.



Like this

loading...
loading...

Latest


13 August 2019
Sterling 'Considering £100m Offer' From Nike To Wear Air Jordan Boots
Jordan brand is a subsidiary of Nike and moved into football a year ago with the launch of a stunning " Jordan X PSG" range. The company entered the soccer market for the first time in 2018-19 by designing the kits for Paris Saint-Germain.

13 August 2019
Former NBA Point Guard Sebastian Telfair Sentenced 3.5 Years for Gun Possession
In total, they found three loaded pistols, a gas-operated submachine gun, extended magazines, ammunition and the ballistic vest. She hasn't even gotten her period yet'.

13 August 2019
Princess Diana named in Jeffrey Epstein court documents
A massive cache of documents unsealed by a USA court this month accused the Duke of having sex with a minor procured by Epstein . In July, Epstein was arrested on child sex trafficking charges and remains under indictment, awaiting trial.

13 August 2019
CNN Host Chris Cuomo Threatens Man Who Called Him 'Fredo'
We completely support him". "I assume @cnn not available for comment ", tweeted Donald Trump Jr., who shared the video . The man said he didn't call the CNN host by the name from The Godfather , in which Cuomo immediately responded.

13 August 2019
Nightdive Studios confirm System Shock 2 Enhanced Edition
Released back in 1999, System Shock 2 was a role-playing survival horror game developed by the former BioShock studio Irrational Games.

13 August 2019
Apple Opens Its Invite-Only Bug Bounty Program to All Researchers
Additionally, the tech giant also staked a 50 percent bonus for hackers who find vulnerabilities in its software before release. Apple raised the bounty from $200,000, and soon all researchers will get the chance to have a crack at the devices.

13 August 2019
Burford Alleges Share Manipulation Around Muddy Waters Attack
Both of these activities are illegal and have resulted in convictions previously, Burford Capital said. Burford pointed to evidence of "spoofing" and "layering". "That is wrong and that is illegal".

13 August 2019
Toronto winner Andreescu pulls out of Cincinnati WTA
After Williams addressed the crowd, Andreescu took time to praise the tennis professional and those in attendance at the match. Andreescu took the title after an emotional Serena Williams was forced to bow out in the first set due to back spasms.

13 August 2019
Celtics The 2019-20 Boston Celtics schedule is announced
Martin Luther King Jr., including the traditional home games for Atlanta (against Toronto) and Memphis (against New Orleans). Immediately after taking on Toronto in Boston, the Celtics will travel to NY for their first game against the Knicks.

13 August 2019
Missy Elliott Finally Getting The Video Vanguard Award at MTV VMAs
Then, in May, she received an honorary doctorate degree from Berklee College of Music in Boston, alongside Justin Timberlake . The ceremony which airs live on MTV on August 26, will be Missy's first time performing live in over a decade.