Verizon sells social media platform, quantity undisclosed

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Verizon sells off early social media darling Tumblr

Verizon acquired Tumblr through its purchase of Yahoo, which bought the social media platform for $1.1 billion in 2013.


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NEW YORK – Verizon is selling Tumblr, a darling of early social media, to the owner of blogging platform WordPress.

Tumblr is known for its devoted fan base and has been home to angry posts from celebrities like Taylor Swift. It angered many customers final yr when it banned porn and “grownup content material,” which made up an enormous a part of its extremely visible and meme-friendly on-line presence.

However nicely earlier than that, the positioning has already been drifting within the face of competitors from Fb and its Instagram service and from Google’s YouTube. Tumblr has additionally been overshadowed by Twitter.

Verizon acquired Tumblr by way of its 2017 purchase of Yahoo. Yahoo had purchased Tumblr for $1.1 billion in 2013, however ended up writing off much of its value. Phrases of Verizon’s sale to WordPress proprietor Automattic weren’t disclosed.

Verizon had hoped to create an advert enterprise to compete with Google and Fb however its media enterprise bumped into bother. It has minimize jobs and offered some Yahoo properties, together with the photo-sharing web site Flickr and Polyvore, a trend and collaging web site that was then shut down.

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Author: Maxwell C.

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