Verizon to sell Tumblr as part of downscaling

Bradley Prior

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Verizon to sell Tumblr as part of downscaling

Verizon Communications Inc. agreed to sell the blogging platform Tumblr to Automattic Inc., the latest sign the wireless giant is dismantling its online empire.

Terms of the transaction weren’t material, Verizon said, suggesting Tumblr sold for a tiny fraction of the $1.1 billion it fetched in 2013. [Bloomberg]
 

Ancalagon

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How do you make $3 million easily?

You buy Tumblr for $1.1 billion, destroy the brand, and then sell what's left.

To answer the above, they won't be bringing the pron back. The new owners already have a statement about that.
 

phly

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Tumblr used to be fun and at one moment in time when blogging was all the rage - tumblr was the king on the hill. I recall customizing my site with all kinds of themes littered on the web adding audio and all other jazz with very little to no knowledge. Basically took up where blogger left off. But then again Yahoo is known to break everything it touches. And what was once acquired for $1.1 Billion was sold as a shell of its former glorious self for a paltry $3 million. A saving of $97 million.
 

Ancalagon

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Wait... So the porn was worth $1,097M??
I think by the time they banned the porn, it had already lost some of its value. But banning the porn basically sealed its fate, it became worthless.

They say that the reason one of the reasons they banned porn is because none of the more established brands wanted to advertise on a site where their logo might be displayed next to porn. Ie, Ford wouldn't advertise on tumblr because you might have the Ford logo next to an erect penis.
 
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