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 users last year
when it banned porn.
Verizon got Tumblr through its 2017 purchase of
Yahoo. Yahoo bought Tumblr for $1.1 billion in
2013, but ended up writing off much of its value.
Terms of Verizon’s sale to WordPress owner
Automattic weren’t disclosed.
Verizon had hoped to create an ad business
to compete with Google and Facebook but its
media business ran into trouble. It has cut jobs
and sold some Yahoo properties, including the
photo-sharing site Flickr and Polyvore, a fashion
and collaging site that was then shut down.
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