Netease Technologies News, August 13, according to foreign media reports, local time Monday Verizon announced the sale of social network Tumblr to the owner of online publishing tool Wordpress Automattic. One source familiar with the deal said that the purchase price was far below 20 million US dollars, while another said that the purchase price was below 10 million US dollars. Verizon did not disclose details of the deal.
Tumblr, which has more than 450 million blog accounts and is not profitable so far, was once considered a major player in social media. In 2013, Yahoo acquired Tumblr for $1.1 billion. In 2017, when Verizon acquired Yahoo, Tumblr was incorporated into Verizon. Verizons desire to sell Tumblr has long been heard of, but as of May this year, Pornhub was the only bidder to show an open interest in buying Tumblr.
According to sources, after Automattics acquisition of Tumblr, the latters 200 employees will also be included in its ranks.
Over the years, Tumblr has been strongly opposed for failing to properly monitor pornographic content. Verizon finally banned such content last year. Matt Mullenweg, chief executive of Automattic, said he planned to maintain the ban. (Chen Chen)
Source: Responsible Editor of Netease Science and Technology Report: Wang Fengzhi_NT2541