Verizon to sell Tumblr to WordPress parent Automattic; terms not disclosed
Verizon Media and Automattic, the parent company of WordPress.com, announced that they have entered into a definitive agreement under which Automattic plans to acquire Tumblr. Terms of the deal were not disclosed. "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." "Today's announcement is the culmination of a thoughtful, thorough and strategic process," said Verizon Media CEO Guru Gowrappan. "Tumblr is a marquee brand that has started movements, allowed for true identities to blossom and become home to many creative communities and fandoms. We are proud of what the team has accomplished and are happy to have found the perfect partner in Automattic, whose expertise and track record will unlock new and exciting possibilities for Tumblr and its users." The transaction is subject to customary closing conditions.