This site may earn affiliate commissions from the links on this page. Your California Privacy Rights | Do Not Sell My Personal Information 'We're not going to change any of that.'". Verizon bought Yahoo's operating business, including Tumblr, for $4.48 billion in June 2017. The big picture: Tumblr, while unprofitable, hosts more than 450 million blogs and was once considered a major player in the social media space. Verizon Media CEO Guru Gowrappan called Automattic "the perfect partner" for Tumblr, saying that the buyer's "expertise and track record will unlock new and exciting possibilities for Tumblr and its users." China congratulates Biden on election victory, The possible long-lasting effects of COVID-19. Subscribing to a newsletter indicates your consent to our, Companies exist to make money for the owners and shareholders, and they’ll often do it at the expense of basic morality and common sense. The network was acquired by Yahoo for $1.1 billion in 2013, before moving under Verizon's umbrella through the carrier's acquisition of Yahoo in 2017. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Updated 2136 GMT (0536 HKT) August 12, 2019. Verizon left Tumblr alone for more than a year, and then someone realized there was (gasp) porn on the site. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. On the new acquisition, the CEO of Automattic Inc., Matthew Mullenweg, said they had no plans to undo the ban on Adult content. The big picture: Tumblr, while unprofitable, hosts more than 450 million blogs and was once considered a major player in the social media space. "Tumblr is one of the Web's most iconic brands," Automattic CEO Matt Mullenweg said in a statement. This newsletter may contain advertising, deals, or affiliate links. Instagram is today announcing a major revamp to the app’s home page; now bringing the Reels, Snapchat is now making the subscriber count of creators visible on the platform. Verizon has agreed to sell Tumblr to Automattic Inc., the owner of WordPress.com, Verizon announced today. Just a few years ago, the site was worth $1.1 billion. Yahoo bought Tumblr for $1.1 billion in 2013. Why it matters: China had been one of the few global holdouts, leading to speculation that Beijing was wary of provoking President Trump. A source familiar with the deal puts the price-tag “well below” $20 million, while another source puts it below $10 million. Photo: Paul J Richards/AFP via Getty Images, Chinese foreign ministry spokesman Wang Wenbin on Friday congratulated President-elect Biden and Vice President-elect Harris on their election victory, saying that China "respected the choice of the American people" but noting that the results were still to be finalized "in accordance with U.S. laws and procedures.". This is, Alphabet saw its third-quarter revenue increase by 14 per cent from 2019, propelled mainly by, Review: “Citation” Is An Inspiration To The “Sorosoke” Generation, *Jowo *Somethingfishy *Holyground *TheBest *ShoppingSpree *OnMyWay Verizon is set to sell the social network Tumblr to Automattic Inc, the owner of online publishing tool Wordpress. Do you own due diligence. Things continued to worsen for Yahoo across the board until Verizon acquired the company in 2017, cutting Mayer loose. We strongly encourage you to read our updated PRIVACY POLICY and COOKIE POLICY. It was quickly overtaken by other more recent platforms like Snapchat, YouTube and Instagram. That’s why the rise and fall of Tumblr is so perplexing. CNMN Collection Recovering from the coronavirus does not necessarily mean you'll bounce back to your old, pre-infection self: Most people who survived a severe infection were still dealing with some combination of physical, emotional and financial pain weeks later. He made $900 Million from that deal. Although Verizon has the largest, most reliable network in the country*, there are external factors that can negatively impact your experience, causing issues such as slow data speeds, dropped calls or other audio issues. To find out more, see here: A comprehensive analysis on Spirit Airlines ($SAVE). This will account for a loss as Verizon acquired the company for $1.1 billion (approximately ₦401.5 billion) in 2017. Ad Choices, with 59 posters participating, including story author, Verizon cuts 10,000 jobs and admits its Yahoo/AOL division is a failure. This fourth-grader doesn't have WiFi at home. They used the platform to explore and express their s*xuality and interests.

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