Tumblr hosts some 475 million blogs currently, with a blend of text, images and video content, but neither Yahoo nor Verizon were ever able to figure out how to make it a significant revenue-generating destination. — Reuters
LOS ANGELES: Verizon announced a deal to sell Tumblr – the blogging site Yahoo acquired for US$1.1bil (RM4.61bil) six years ago – to Automattic, the company that owns and operates online-publishing site WordPress.com.
Terms of the deal were not disclosed, but the price tag is clearly nowhere near what Yahoo originally paid. Automattic will bring about 200 Tumblr employees on-board with the deal, according to the Wall Street Journal, which first reported the news.
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