Life in Rural Kyrgyzstan
World|technology|August 15, 2019 / 12:11 PM
Tumblr sold for $1.1 billion in 2013 was bought for just $3 million in 2019

AKIPRESS.COM - Verizon sold Tumblr for a reported $3 million this week, a far cry from the billion-dollar valuation it once had.

Tumblr was sold to Yahoo for $1.1 billion in 2013.

But to Verizon’s credit, it chose to sell Tumblr to Automattic, the company behind WordPress, the publishing platform that runs some 34 percent of the world’s websites, The Verge reports.

Automattic CEO Matt Mullenweg thinks the future of Tumblr is bright. He wants the platform to bring back the best of old-school blogging, reinvented for mobile and connected to Tumblr’s still-vibrant community, and he’s retaining all 200 Tumblr employees to build that future. It’s the most exciting vision for Tumblr in years.

All rights reserved

© AKIpress News Agency - 2001-2019.

Republication of any material is prohibited without a written agreement with AKIpress News Agency.

Any citation must be accompanied by a hyperlink to akipress.com.

Our address:

189 Moskovskaya st., Bishkek, the Kyrgyz Republic

e-mail: english@akipress.org, akipressenglish@gmail.com;

Tel/Fax: +996(312)65-03-06

Follow us: