Verizon to sell Tumblr to WordPress parent Automattic, reportedly for ‘well below’ $20 million

In 2013, Yahoo bought Tumblr for $1.1 billion.

Carrie Mihalcik for CNET:

Verizon is saying goodbye to Tumblr. The media company on Monday said it agreed to sell Tumblr to Automattic, the parent company of WordPress. Terms of the deal weren’t disclosed, but Axios reported that the price tag was “well below” $20 million.

“Tumblr is one of the Web’s most iconic brands,” said Automattic CEO Matt Mullenweg in a release. “It is an essential venue to share new ideas, cultures and experiences, helping millions create and build communities around their shared interests.”

The sale isn’t a surprise as reports earlier this year said Verizon was looking for a potential buyer. Tumblr became part of Verizon through the company’s 2017 acquisition of Yahoo.

MacDailyNews Take: Hopefully, Automattic can do something good with Tumblr.

By the way, our Tumblr site is: https://macdailynews.tumblr.com

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