Six years after Yahoo purchased Tumblr for north of $1 billion, its parent corporation is selling the once dominant blogging platform. WordPress owner Automattic Inc. has agreed to take the service off of Verizon’s hands. Terms of the deal are undisclosed, but the number is “nominal,” compared to its original asking price, per an article in The Wall Street Journal.
Axios is reporting that the asking price for the platform is “well below $20 million,” a fraction of a fraction of its 2013 price tag.
Once the hottest game in town, the intervening half-decade has been tough on Tumblr, as sites like Facebook, Instagram, Reddit and the like have since left the platform in the dust. More recently, a decision to barn porn from the platform has had a marked negative impact on the service’s traffic. According to Sensor Tower, first-time users for Tumblr’s mobile app declined 33% year-over-year last quarter.
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