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WordPress owner acquires Tumblr at knockdown price from Verizon

on Aug 13, 2019 | 0 comments

By John Glenday

Tumblr is set to be sold off for a knockdown price after owners Verizon opted to dispose of the social network to WordPress owner Automattic for a reported fee of less than $3m.

The deal marks a dramatic change of fortunes for Tumblr, which was bought by Yahoo for $1.1bn in 2013, and then assimilated into the Verizon fold when the telecoms giant bought Yahoo in 2017.

The short-form blogging platform is said to have lost almost a third of its traffic since banning all pornography and sexually explicit content in 2018.

Tumblr itself remains unprofitable despite Read full story ›

Source: The Drum