Verizon announces sale of Tumblr to Automattic, the owner of WordPress

Six years after Yahoo bought Tumblr for $1.1 billion, Verizon decided that it's time to part ways with the social network. The buyer, Au...

Six years after Yahoo bought Tumblr for $1.1 billion, Verizon decided that it's time to part ways with the social network. The buyer, Automattic, the parent company of WordPress, confirmed plans to acquire Tumblr earlier today.

Unfortunately, terms of the deal haven't been disclosed yet, so we have no idea how much Automattic will pay for the acquisition, nor when the deal will close. In a joint statement by Verizon and Automattic, the companies seem to be happy and excited to be able to close such a deal.

Automattic's CEO, Matt Mullenweg said that while Tumblr “is one of the Web's ...

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