Six years after Yahoo bought Tumblr for $1.1 billion, Verizon decided that it's time to part ways with the social network.
Terms of the deal were not disclosed. "We are proud of what the team has accomplished and are happy to have found the ideal partner in Automattic, whose expertise and track record will unlock new and exciting possibilities for Tumblr and its users", said Verizon Media's CEO Guru Gowrappan.
As Yahoo and its assets have been chopped up and reformed by Verizon (neé Oath), there's been speculation around the possible sale of Tumblr - informed by high-level exits within the company, and finally confirmed by Verizon itself this may when it announced the site was up for auction.
Blogging platform Tumblr is, yet again, getting a new owner.
Tumblr, its technologies, and its 200 or so employees are being sold to Automattic for an undisclosed amount.
Much of Tumblr's content over the years has of course been porn, and the platform's user base dwindled significantly in the first months of this year after Verizon instituted a ban on adult content. Automattic CEO Matt Mullenweg tells the Journal that he plans to keep the porn in place.
In a post on Tumblr, Automattic's CEO said the deal should close within a few weeks.
"When the possibility to join forces became concrete, it felt like a once-in-a-generation opportunity to have two beloved platforms work alongside each other to build a better, more open, more inclusive - and, frankly, more fun web", he wrote.