Verizon selling Tumblr to WordPress.com owner
Found on Ars Technica on Monday, 12 August 2019
Terms of the deal were not disclosed, but an Axios article said the sale price is "well below" $20 million.
Yahoo bought Tumblr for $1.1 billion in 2013. Verizon bought Yahoo's operating business, including Tumblr, for $4.48 billion in June 2017.
"Mr. Mullenweg said his company intends to maintain the existing policy that bans adult content," today's Journal article said. "He said he has long been a Tumblr user and sees the site as complementary to WordPress.com.
That's one way to burn money. After the adult ban, it was pretty obvious to everybody that the site would vanish.