Tumblr is changing hands once more, and Yahoo parent company Verizon is reportedly offloading it for less than one percent of what Yahoo paid for the company in 2013. Full details of the deal have not yet been revealed, but the micro-blogging service is being bought by Automattic, the company behind WordPress.
Verizon Communications Inc. agreed to sell the blogging platform Tumblr to Automattic Inc., the latest sign the wireless giant is dismantling its online empire. Automattic says the ban will remain in place.
"Tumblr is a marquee brand that has started movements, allowed for true identities to blossom and become home to many creative communities and fandoms", Verizon Media CEO Guru Gowrappan said in a statement to The Verge.
Despite the drop in users after the ban, Automattic Inc. Rumors about a potential sale then began brewing in May when The Wall Street Journal reported Verizon was shopping Tumblr to potential buyers in order to stabilize its media business.
Six years after it was sold to Yahoo for over $1 billion, Tumblr is set to be sold again for a little over what it costs to buy a house in Sydney.
Beyond financial turmoil, Tumblr was pulled from the Apple App Store briefly previous year as it worked to combat child pornography hosted on the platform, an ordeal that led to a new and wildly unpopular site policy banning adult content of all stripes. As the world's leading CMS platform (a 2018 Kinsta report showed WordPress owns 60% market share among content management systems), adding more functionality and features to WordPress' offerings should benefit marketers charged with managing WordPress websites. Pornhub was the only bidder who made their interest in the platform public.