WordPress buys Tumblr for a song

Category: News

Verizon is set to sell the social network Tumblr to Automattic Inc, the owner of online publishing tool WordPress. A source familiar with the deal puts the price-tag “well below” $20 million.

The tumblr football gets passed along yet again.

Picked up for a lazy US$1.1b by Yahoo during the Marissa Myer years, the ailed former pornography repository microblogging service was then inherited by Verizon as a part of a larger deal.

New owners Automattic Inc have promised to continue running the platform as a seperate brand and have taken on all 200 employees to continue the service.

Source: Verizon agrees to sell Tumblr to owner of WordPress – Axios