David Karp, founding father of the micro-blogging web site Tumblr, opens the NASCAQ Trade in New York Metropolis.
Verizon is promoting Tumblr, the running a blog social community that Yahoo bought for $1.1 billion, to the proprietor of WordPress for a small sum.
WordPress guardian Automattic will purchase Tumblr together with its workers of about 200, in accordance with The Wall Street Journal, which first reported the deal Monday and stated the worth “is not materials to Verizon.” Representatives from Tumblr and Automattic confirmed the acquisition to CNBC.
Automattic CEO Matt Mullenweg — in a Tumblr post — stated his firm will attempt to “protect the fervour and sense of group that so many individuals world wide — and everywhere in the net — have come to affiliate with Tumblr.”
The Tumblr deal is Automattic’s largest acquisition to this point, a spokesman for the corporate informed CNBC.
“When the likelihood to affix forces turned concrete, it felt like a once-in-a-generation alternative to have two beloved platforms work alongside one another to construct a greater, extra open, extra inclusive — and, frankly, extra enjoyable net,” Mullenweg wrote. “I knew we needed to do it.”
Tumblr, based in 2007 by David Karp, is a web site that gained reputation by permitting individuals to publish blogs totally free. Verizon inherited Tumblr as a part of its 2017 acquisition of Yahoo, which purchased Tumblr in 2013.
The market has turning into more and more crowded in recent times, with opponents like Squarespace, Wix and Weebly (now owned by Square) offering web site templates for small companies and freelancers, and as Medium turned a preferred web site for bloggers.