It's unclear what changes will come under Automattic's leadership, and the two companies behind the deal have yet to disclose any details. "We are proud of what the team has accomplished and are happy to have found the ideal partner in Automattic, whose expertise and track record will unlock new and exciting possibilities for Tumblr and its users", Verizon Media CEO Guru Gowrappan said in a statement. 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.More news: Minecraft's Super Duper Graphics Pack is canceled
It's a shocking drop in value, especially when you recall that Yahoo initially paid US$1.1 billion (~RM4.61 billion) for it back in 2013. The company is reportedly taking on all of Tumblr's 200 employees, and the purchase price of the company was undisclosed - though Axios pegs it as below $10 million. The transaction is subject to customary closing conditions.
Much of Tumblr's content over the years has of course been porn, and the platform's user base dwindled significantly in the first months of this year after Verizon instituted a ban on adult content. Automattic CEO Matt Mullenweg tells the Journal that he plans to keep the porn in place.More news: Jeffrey Epstein’s Handyman Claims Financier Met ‘Princess Diana’s Secretary With Her Kids’
'It is an essential venue to share new ideas, cultures and experiences, helping millions create and build communities around their shared interests'. Automattic also plays a major role in maintaining WordPress.org, which is the free, open-source version of WordPress that's widely used by many websites on the internet to this date.More news: £100,000 donated to search for Nora Quoirin