Verizon will sell Tumblr to WordPress owner Automattic Inc. at a small fraction of the price paid for it in 2013, according to media reports.

The Verge reported that Verizon, which first acquired Tumblr in 2017 after it purchased Yahoo, started to explore a sale earlier this year. Automattic reportedly bought Tumblr for less than $3 million, according to Axios, “a stunning drop in value from the $1.1 billion Yahoo paid for it in 2013.”

The Verge added that “Tumblr was once a hugely influential force in the blogging and social media sphere, but it become less so under Yahoo and then Verizon’s ownership. Meanwhile, platforms like Instagram, Snapchat, and YouTube moved to fill the void and become much larger cultural forces as a result. Still, Tumblr does have a very active and dedicated community.”

(According to Wikipedia: On May 20, 2013, “it was announced that Yahoo and Tumblr had reached an agreement for Yahoo! Inc. to acquire Tumblr for $1.1 billion in cash … Verizon Communications  acquired Yahoo in June 2017, and placed Yahoo and Tumblr under its Oath subsidiary.”)

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