Tuesday, 13 August 2019
Yesterday, Automattic, the creator of WordPress, announced it had acquired Tumblr for “less than $3 million” from its previous owner, Yahoo. It’s an inauspicious fall from grace for the site, which was previously sold to the search giant for $1.1 billion. Why did Yahoo sell one of its prized possessions for a mere 0.27 percent of its original purchase price? It’s a question that’ll puzzle many, as unlike other faded social platforms, Tumblr still has a die-hard userbase, and continues to pull in a respectable amount of traffic. I’d postulate that Tumblr was simply too troublesome to monetize and moderate,…
This story continues at The Next Web
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