Verizon selling Tumblr to Wordpress owner Automattic
MANILA, Philippines – Blogging platform Tumblr is changing hands again. A Wall Street Journal report on Tuesday, August 13, said Verizon – which owns Tumblr – will be selling the platform to Wordpress owner Automattic.
The price for the deal has not been officially disclosed, but sources tell Axios that the pricing can either be "well below" $20 million or possibly even below $10 million.
Tumblr previously fetched an asking price of about $1.1 billion when it was purchased by Yahoo in 2013, but has remained relatively unprofitable, especially following an exodus of users who felt alienated by Verizon's push to ban adult content on the platform in 2018. Its only notable potential buyer prior to this deal was Pornhub.
The Verge added the sale may complement WordPress' own systems, as Tumblr's mobile interface could be used to leverage WordPress' own platform. – Rappler.com