WordPress Is Acquiring Tumblr From Verizon
The owners of WordPress, Automattic Inc., are buying Tumblr from Verizon. Neither of the companies disclosed the amount. However, reports suggest that Tumblr was sold for $3 million (approximately ₦1.1 billion). This will account for a loss as Verizon acquired the company for $1.1 billion (approximately ₦401.5 billion) in 2017.
Even though Tumblr has a vibrant and dedicated community, it became less popular under its new ownership. The app used to be a very popular social media and blogging platform. But it has lost popularity over the years. It was quickly overtaken by other more recent platforms like Snapchat, YouTube and Instagram.
Tumblr’s popularity started to wane when Verizon decided to ban adult content from the platform. The app was famous for being safe for minority groups like the LGBTQ community. They used the platform to explore and express their s*xuality and interests. This community of users then decided to boycott the app following the adult content ban.
Verizon Sells Tumblr
Verizon Media CEO Guru Gowrappan in a statement said: “Tumblr is a marquee brand that has started movements, allowed for true identities to blossom and become home to many creative communities and fandoms.”
“We are proud of what the team has accomplished and are happy to have found the perfect partner in Automattic, whose expertise and track record will unlock new and exciting possibilities for Tumblr and its users,” he added.
On the new acquisition, the CEO of Automattic Inc., Matthew Mullenweg, said they had no plans to undo the ban on Adult content. Instead, they intend to make Tumblr a complementary site to WordPress. This could mean that there might be an exchange of services and functionality between the two websites.
David Karp founded Tumblr in 2007. Although he left the company back in 2017 for undisclosed reasons.