Technologies

Verizon announced the sale of the Tumblr blog service to the owner of WordPress. Journalists called the deal amount nominal

In 2013, they bought the service for $ 1.1 billion, and now they are supposedly selling it for less than $ 20 million.

Verizon Media has agreed to sell the Tumblr blogging service to the Automattic owner of WordPress. The amount of the transaction and its terms are not disclosed, according to the Verizon website.

The Wall Street Journal called the transaction amount nominal. Journalists said that more than 200 employees working on Tumblr will go to work at Automattic. A WSJ source claims that the transaction amount does not matter to Verizon.

An Axios interlocutor said that the blog service is selling for less than $ 20 million, another source said the amount is $ 10 million.

In 2013, Yahoo, now owned by Verizon, bought Tumblr for $ 1.1 billion. Rumors about the sale of the blog service appeared in May 2019. Then, Pornhub, who was planning to return “adult” content to the site, declared interest in this deal. Automattic CEO Matt Mullenweg told The Wall Street Journal that he plans to maintain a ban on such publications.

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