Topic: Verizon turns $1.1 billion investment into $10 million
Posted by smarter.than.yuo
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Verizon is set to sell the social network Tumblr to Automattic Inc, the owner of online publishing tool Wordpress. A source familiar with the deal puts the price-tag "well below" $20 million, while another source puts it below $10 million.

The big picture: Tumblr, while unprofitable, hosts more than 450 million blogs and was once considered a major player in the social media space. 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. Verizon's desire to sell Tumblr had been previously known, but as of May, Pornhub had been the only bidder to show public interest.

Automattic Inc. will buy the network and take on its 200 employees.

Between the lines: Tumblr has faced backlash over the years for not properly monitoring pornographic content, which Verizon ultimately banned last year. Automattic's Chief Executive Matt Mullenweg told the Wall Street Journal that he plans to maintain the ban.


Posted by .
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Verizon didn't pay $1.1 billion for it, yahoo did.


Posted by .
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LIBERAL INVESTMENT... IT WORKS EVERYTIME.


Posted by Trollstein.
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Check out the pic :lol:

https://www.google.com/amp/s/dealbreaker.com/.amp/2019/08/verizon-sells-tumblr-98-percent-discount-marissa-mayer


Posted by .
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I got mine. Tee hee!
\
:tfb:


Posted by .
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Will millennials get naked on it again?


Posted by .
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. said: Verizon didn't pay $1.1 billion for it, yahoo did.

Marissa Mayer's tenure as CEO? :lol:


Posted by .
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. said: Will millennials get naked on it again?

That stuff has long since moved to Snap


Posted by .
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. said:
. said: Will millennials get naked on it again?

That stuff has long since moved to Snap

­

thats private tho... tumblr was pure attention whoring



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