Verizon announced that it is selling New York-based Tumblr to WordPress parent company Automattic Inc. Terms of the deal have not been formally announced, although some reports suggest that Automattic paid less than $3 million. Verizon purchased Tumblr in 2017 following its Yahoo acquisition; Yahoo paid $1.1 billion for the blogging platform four years earlier. Today, Tumblr is an active social networking hub and home to 475 million blogs. While it has a dedicated community, it does not share the same cultural impact as platforms such as Instagram, Snapchat and YouTube. Continue reading Verizon to Sell Tumblr to WordPress Owner Automattic Inc.

In a first for Yahoo-owned Tumblr, the blogging platform is launching a group video chat app it has named Cabana. The new app — available now on iOS and coming to Android next month — enables video chat for up to six users who can also stream YouTube video content while chatting. Blogging remains the company’s primary focus, but Cabana represents the first communication app it has developed. Tumblr is “not pivoting, but definitely exploring a new direction here,” said founder/CEO David Karp. “The idea is similar to Houseparty, the app from the company behind former live-streaming darling Meerkat,” notes Recode, and “similar to Airtime, Sean Parker’s chat startup that was revived a year ago.” Continue reading Tumblr Explores a New Direction with Video Chat App Cabana

After Yahoo purchased Tumblr for $1.1 billion in 2013, CEO and founder David Karp was promised that the site would remain an independent property. Tumblr would use Yahoo’s advertising technology while Yahoo would use Tumblr’s publishing tools. Now, Yahoo executives see Tumblr as their version of YouTube. Tumblr would solve YouTube content creators’ complaints that they do not make enough money, and the poached YouTube stars would set up their new channels on Tumblr.  Continue reading Yahoo Now Envisions Tumblr as Its Own Version of YouTube

Yahoo announced early this morning that it has agreed to pay $1.1 billion for Tumblr, the six-year-old blogging site that touts more than 100 million users, but little in the form of revenue. While Tumblr users have already expressed concerns that the site could end up cluttered with ads, Yahoo CEO Marissa Mayer promises “not to screw it up.” The deal marks the largest social acquisition in years, surpassing last year’s $1 billion purchase of Instagram by Facebook. Continue reading Yahoo Announces $1.1 Billion Acquisition Plan for Tumblr