Verizon Sells Tumblr to WordPress's Parent Company

Verizon Sells Tumblr to WordPress's Parent Company

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.

As result, two of the biggest free blogging services on the internet will join forces.

Terms of the deal were not disclosed. "We are excited to add it to our lineup", said Automattic's CEO Matt Mullenweg in a statement.

Verizon has officially offloaded the once-popular blogging site Tumblr, months after announcing its decision to sell the platform. The buyer, Automattic, the parent company of WordPress, confirmed plans to acquire Tumblr earlier today. "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", said Verizon Media's CEO Guru Gowrappan.

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Tumblr was acquired by Yahoo for more than $1 billion in 2013, and Verizon later acquired it as part of its deal for Yahoo in 2015.

The short-form blogging platform is said to have lost nearly a third of its traffic since banning all pornography and sexually explicit content in 2018. Verizon Media CE Guru Gowrappan says his company is proud of what the team at Tumblr has accomplished until now and that it's happy to have found someone like Automattic to buy it. Automattic will carry on with the porn ban on Tumblr after the acquisition. "It is an essential venue to share new ideas, cultures, and experiences, helping millions create and build communities around their shared interests".

In a post on Tumblr, Automattic's CEO said the deal should close within a few weeks.

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