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WordPress’ parent company to buy Tumblr from Verizon

WordPress’ parent company Automattic Inc. has reportedly agreed to acquire the once-dominant blogging platform Tumblr from Verizon for a ‘nominal’ amount compared to its original asking price.

According to a report by Techcrunch, the terms of the deal are not disclosed but the asking price for the platform is reportedly below $20 million which is “a fraction of a fraction” of its price tag in 2013.

Automattic CEO Matt Mullenweg said: “Tumblr is one of the Web’s most iconic brands. It is an essential venue to share new ideas, cultures and experiences, helping millions create and build communities around their shared interests. We are excited to add it to our lineup, which already includes, WooCommerce, Jetpack, Simplenote, Longreads, and more.”

Tumblr meanwhile wrote in a blog post: “We couldn’t be more excited to be joining a team that has a similar mission. Many of you know, Automattic’s flagship product. and Tumblr were both early pioneers among blogging platforms.”

“Automattic shares our vision to build passionate communities around shared interests and to democratize publishing so that anyone with a story can tell it, especially when they come from under-heard voices and marginalized communities,” it added.

Tumblr has faced negative impact on its traffic after ‘adult content’ have been banned from the site, apart from the rising popularity of socail media sites such as Facebook and Instagram among others.

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