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Verizon is selling Tumblr to Automattic, the company that owns WordPress. Its daily visitors dropped by 30% between December 2018 and March 2019, according to the Verge. Existing posts containing porn were made private and are no longer publicly accessible. All times are ET. Here's how to see which apps have access to your Facebook data — and cut them off. The Journal notes that Verizon’s attempt to offload Tumblr comes as it tries to make the best of its collective media business after a $4.6 billion write-down last year, which was essentially an acknowledgement that both deals had been a mistake. Meanwhile, Matt Mullenweg, the founder of rival blogging service WordPress, noted on his blog Sunday that the rumors of the Tumblr acquisition at the weekend have already prompted a massive spike in users importing their Tumblr posts to WordPress. Verizon is selling Tumblr, the blogging social network that Yahoo purchased for $1.1 billion, to the owner of WordPress for a small sum. The move resulted in harsh criticism toward the company and a steep decline in web traffic, but Tumblr has given no indication that it plans to reverse its decision. Read the full report from The Wall Street Journal. Most stock quote data provided by BATS. To learn more or opt-out, read our Cookie Policy. The deal, which had been rumored since last Thursday, will help Yahoo to tap into the younger, active online user base at Tumblr. Continuing, Mullenweg expressed what sounded like slight remorse over the Tumblr-Yahoo marriage. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Guru Gowrappan, the executive put in charge of Verizon Media Group last year, later criticized that sell-off as too time-consuming without enough reward. TechHive. Yahoo Chief Financial Officer Ken Goldman said that while the deal is not expected to add much to Yahoo's results this year, he forecasts material gains in both profits and revenue by next year. According to the linked Wall Street Journal article: Verizon Communications Inc. has agreed to sell its blogging website Tumblr to the owner of popular online-publishing tool WordPress.com, unloading for a nominal amount a site that once fetched a purchase price of more than $1 billion. Yahoo may write off virtually all the value of its big Tumblr acquisition. Tumblr took a major hit in the first quarter of the year after it banned Not Safe For Work content from its platform. "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," Mullenweg wrote. Yahoo banned porn, and site traffic plummeted. But publicly, Verizon executives remain committed to the properties despite layoffs that have affected some of the sites and entertainment divisions. Not everyone is as optimistic as Karp and Mayer, however. So what’s a nominal amount? Any deal is unlikely to be for a price anywhere near the $1.1 billion that Yahoo paid for Tumblr back in 2 013. But Mayer has also been criticized for some of her moves since she left Google to become CEO of Yahoo, especially her decision that Yahoo employees could no longer work from home. By clicking ‘Sign up’, you agree to receive marketing emails from Business Insider A leading-edge research firm focused on digital transformation. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Representatives from Tumblr and Automattic confirmed the acquisition to CNBC. The board of Yahoo, the faded Web pioneer, agreed on Sunday to buy the popular blogging service Tumblr for about $1.1 billion in cash, the companies announced Monday, a signal of … Disclaimer. Verizon Communications is looking to sell Tumblr, the free blogging platform it acquired when it bought Yahoo in 2015, according to the Wall Street Journal. This story, "It's official: Yahoo will buy Tumblr for $1.1 billion" was originally published by Tumblr, founded in 2007 by David Karp, is a site that gained popularity by allowing people to publish blogs for free. The good, the bad and the ugly of Tumblr under Yahoo, Welcome to the new Tumblr: cat GIFs and more ads, How to move your Tumblr blog to WordPress. Please also read our Privacy Notice and Terms of Use, which became effective December 20, 2019. According to the linked Wall Street Journal article: Verizon Communications Inc. has agreed to sell its blogging website Tumblr to the owner of popular online-publishing tool WordPress.com, unloading for a nominal amount a site that once fetched a purchase price of more than $1 billion. Tumblr CEO and founder David Karp has resisted the use of traditional display advertising on Tumblr to this point. Pornhub quickly sought to attract those users that Tumblr drove away. The purchase is the biggest move yet by Mayer, the Yahoo CEO who has shaken up the company in less than a year on the job. Sign up for free newsletters and get more CNBC delivered to your inbox. We want to hear from you. Get this delivered to your inbox, and more info about our products and services. Verizon is to sell Tumblr ... Iâ m most excited for what this means for the entire Tumblr community. “Yahoo will help Tumblr get even better, faster. These are your 3 financial advisors near you, This site finds and compares 3 financial advisors in your area, Check this off your list before retirement: talk to an advisor, Answer these questions to find the right financial advisor for you, An Insane Card Offering 0% Interest Until Nearly 2020, Transferring Your Balance to a 14-Month 0% APR is Ingenious, The Top 7 Balance Transfer Credit Cards On The Market Today, Get $300 Back With This Outrageous New Credit Card. All Rights Reserved. © 2020 The Loop Media powered by WordPress | Privacy Policy, A letter from Apple’s VP of Environmental Initiatives, “So that’s what the spiral thing on my Swiss Army knife is for!”, The profound power of the Internet in your pocket, Tweaking and Sliding: The Jordan Rudess Authorized Biography, The Tentacle, the Monkey and the Motorcycle, “Is that you Matthew Modine? Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. The company has been using AI to detect and automatically block images and videos that contain certain adult content. At the heart of it: Pornography. The deal is the largest made by Marissa Mayer since she took over Yahoo last summer and follows nine other acquisitions by the company. Verizon inherited Tumblr as part of its 2017 acquisition of Yahoo, which bought Tumblr in 2013. Tumblr is a companion to WordPress and intended to be “just fun,” says Automattic chief Matt Mullenweg. Yahoo spent $1 billion to buy Tumblr, but now it's hinting it may write off nearly the entire deal. Yahoo bought Tumblr which, back in 2013, was a hotbed for pornography. WATCH: Here's how to see which apps have access to your Facebook data — and cut them off. A source familiar with the deal puts the price-tag “well below” $20 million, while another source puts it below $10 million. This is an incredible story. The platform currently has 465.4 million blogs and 21.6 million daily posts. Got a tip for us? In 2006, Google paid $1.6 billion for YouTube. Verizon sold one of its Yahoo assets, Flickr, to SmugMug about a year ago. Its daily visitors dropped by 30% between December 2018 and March 2019. since. David Karp, founder of the micro-blogging site Tumblr, opens the NASCAQ Exchange in New York City. as well as other partner offers and accept our, Any deal is unlikely to be for a price anywhere near the $1.1 billion that Yahoo paid for Tumblr back in 2, $230 million three years later, and Tumblr's popularity has faded in recent years.

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