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Verizon Looking To Sell Social Networking Site Tumblr

Verizon Communications, the owners of microblogging and social networking website Tumblr, are looking to sell it. They acquired the company after they bought Yahoo in 2015.

 

Yahoo had bought the company from its founder, David Karp, at $1.1 billion in 2013. However, he left the company which he founded in 2007 ten years after in 2017. Karp did this after Tumblr was being run by Verizon following their acquisition of Yahoo.

 

Verizon Media Group is looking to improve its finances and cut costs. In January 2019, they laid off 7 per cent of their workforce. It included employees in their media websites TechCrunch and HuffPo. This accounted for the loss of 750 jobs.

 

PornHub to the rescue?

However, on the evening of May 2, 2019, Vice President of Pornhub Corey Price claimed in a statement that his company was interested in buying Tumblr. He said they were looking forward to restoring the site to its former glory, but this time with Not Safe For Work (NSFW) content.

 

Verizon to sell Tumblr

 

Tumblr once grew into a popular microblogging site. The company took a major hit in the first quarter of 2018 when it banned NSFW content on the platform. The daily visitors then dropped by 30% between December 2018 and March 2019. Presently, Tumblr has 21.6 million posts daily and 465.4 million blogs.

 

The NSFW content includes pornographic content that the company was using AI to automatically detect and block. Existing posts containing adult content were made private and inaccessible to all. Pornhub is now looking to attract the customers that left by making such content accessible on the blog again.

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