Automatics Inc., an owner of WordPress.com, has come in for Tumblr for what is stated to be an extremely low sum.
According to the Wall Street Journal, Tumblr was bought for an “undisclosed sum” but soon realized that the amount was “much less” at $ 10 million.
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Dan Primack, editor-in-chief of Axios, announced the purchase price. He posted an update after publishing the article claiming that the amount was less than $ 3 million.
Again, to be clear… emphasis on the “well below” $20 million…
For proper analysis, Yahoo bought Tumblr for $ 1.1 billion in 2013. Yahoo created Tumblr for $ 230 million in 2016 after generating little revenue.
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In 2017, Verizon acquired Tumblr by acquiring Yahoo. Verizon could sell Tumblr at a price just a fraction of its value five years ago.
“Read about the shocking acquisition of Tumblr by WordPress parent company from Verizon for a surprisingly low sum. Discover the implications and what this means for the future of these platforms. A One Sol provides the latest updates in tech and business news.”
Despite its low cost, the Tumblr transaction is Automatic’s most significant acquisition of prices and personnel. we can help your websites.
As part of the acquisition, Automatics will recruit 200 employees for Tumbler to ensure no one loses their jobs.
Another thing that remains on Big T is a controversial porn ban. Matt Mullenweg, CEO of Automatics, told the Wall Street Journal: “We’re not changing it.”
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According to Mullenweg, executives are looking for ways to switch services and features between WordPress.com and Tumbler.
At the same time, none of the services changed immediately.