Tumblr is a blogging social network. Tumblr was founded in 2007 by David Karp. It has gained a lot of popularity. Earlier Yahoo bought it for $1.1billion in 2013.
Verizon is set to sell Tumblr to Automatic, the company that owns WordPress. A spoke person from the company said that The Tumblr deal is Automatic’s largest acquisition to date,” Automatic will acquire Tumblr along with its 200 employees.”
Verizon selling Tumblr, the blogging social network that Yahoo purchased for $1.1 billion, to the owner of WordPress for a small sum.
WordPress parent Automattic will acquire Tumblr along with its staff of about 200, according to The Wall Street Journal, which first reported the deal Monday and said the price “isn’t material to Verizon.” Representatives from Tumblr and Automattic confirmed the acquisition to CNBC.
Automatic’s CEO Matt Mullenweg- in a Tumblr post said his company will try and preserve the passion and sense of community that so many people around the world.
When the possibility to join forces became strong, it felt like a once in a generation chance to have two beloved platforms work alongside each other to build a better, more open, more extrovert and frankly more fun web.” Matt wrote, “I knew we had to do it.”
Automattic CEO Matt Mullenweg — in a Tumblr post — said his company will try and preserve the passion and sense of community that so many people around the world.
The Tumblr deal is Automattic’s largest acquisition to date, a spokesman for the company told CNBC. Tumblr, founded in 2007 by David Karp, is a site that gained popularity by allowing people to publish blogs for free.
With companies like Squarespace, Wix, and Weebly, the market has become very crowded. These companies provide website templates for small businesses and freelancers, and as Medium became a popular site for bloggers. The market has become increasingly crowded in recent years, with competitors like Squarespace, Wix, and Weebly providing website templates for small businesses and freelancers, and as Medium became a popular site for bloggers.
