Tumblr Got Acquired by WordPress Owner
Blogging website Tumblr is going to acquire by Automattic Inc., the owner of popular online-publishing tool WordPress.com.
Currently, Tumblr is owned by Verizon Communications Inc. the parent company of Yahoo. Verizon acquired Tumblr in 2013 for $1 billion.
As per the sources, the current acquisition price is just a $20 million, a big loss for Verizon.
Tumble was popular as a porn blog app between users. Once the hottest game in town now in the dust because a recent decision to ban porn from the platform has had a marked negative impact on Tumblr's traffic.
According to the data, first-time users for Tumblr’s mobile app declined 33% year-over-year last quarter.
“Today’s announcement is the culmination of a thoughtful, thorough and strategic process,” said Verizon Media CE...