Verizon agrees to sell Tumblr to owner of Wordpress - Axios 🔗 💵 📰 🖥 💻 📱

Verizon is set to sell the social network Tumblr to Automattic Inc, the owner of online publishing tool Wordpress. A source familiar with the deal puts the price-tag ‘well below’ $20 million, while another source puts it below $10 million…. Tumblr, while unprofitable, hosts more than 450 million blogs and was once considered a major player in the social media space. The network was acquired by Yahoo for $1.1 billion in 2013, before moving under Verizon’s umbrella through the carrier’s acquisition of Yahoo in 2017.