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Verizon Sells Tumblr For A Fraction Of Its Buying Price

Newsy Wednesday, 14 August 2019 ()
Verizon Sells Tumblr For A Fraction Of Its Buying PriceWatch VideoThe once booming social media site Tumblr just found a new home. Verizon has sold the site to Automattic, which owns another long-standing blog site, WordPress.

Buyouts happen all the time, but the price Tumblr reportedly sold for is what's shocking — Axios says the site went for a whopping $3 million. Back in...
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News video: Verizon Sells Tumblr For A Fraction Of Its Buying Price

Verizon Sells Tumblr For A Fraction Of Its Buying Price 01:05

Back in 2013, Yahoo bought Tumblr for $1.1 billion. Six years later, Tumblr has reportedly lost over 99% of its value.

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