Enlarge / The Tumblr application on an Asus Zenfone 2. Verizon bought Tumblr owner Yahoo in 2017, is now selling Tumblr to Automattic. In a 2011 interview, Karp said he had wanted to set up a blog but didn’t think the traditional, long-form formats like WordPress were the right fit. The site launched in 2007 under David Karp, who dropped out of high school at age 15 and got Tumblr up and running when he was 20. But Yahoo ultimately wrote off much of Tumblr’s value. In 2013, Yahoo bought Tumblr for $1.1 billion. On Monday, in perhaps the latest mark of its decline, the site was reportedly bought for just $3 million. Tumblr, the onetime darling of social media, sold for a whopping $1.1 billion in 2013. The Tumblr deal is Automattic’s largest acquisition to date, a spokesman for the company told CNBC. Verizon inherited Tumblr as part of its 2017 acquisition of Yahoo, which bought Tumblr in 2013.Īutomattic CEO Matt Mullenweg - in a Tumblr post - said his company will try and “preserve the passion and sense of community that so many people around the world - and all over the web - have come to associate with Tumblr.”. Tumblr, founded in 2007 by David Karp, is a site that gained popularity by allowing people to publish blogs for free. The estimated value of Tumblr is around $3 million. Automattic is the operator of the blog service for WordPress. It is one of the most popular microblogging web sites all the time, it continues its work with the brand of Automattic.
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