Verizon Wireless bought Tumblr from Yahoo, it was originally sold for $1.1 billion and now Verizon are selling it for a lot less to WordPress owner Automattic.
There are no details on how much Tumblr was sold for but it is said to be less than $20 million, Automatic will take over the company’s 200 staff.
“Tumblr is one of the Web’s most iconic brands,” said Automattic CEO Matt Mullenweg. “It is an essential venue to share new ideas, cultures and experiences, helping millions create and build communities around their shared interests. We are excited to add it to our lineup, which already includes WordPress.com, WooCommerce, Jetpack, Simplenote, Longreads, and more.”
It is not clear as yet exactly what Automattic has planned for Tumblr, as soon as we get some more details, we will let you guys know.