Here’s your daily tech digest, by way of the DGiT Daily newsletter, for Tuesday, August 13, 2019!
1. Verizon is selling Tumblr to the owner of WordPress, still not NSFW
Remember when Tumblr was acquired by Yahoo! for $1.1 billion in 2013? And then was part of the Yahoo-to-Verizon deal, which promptly removed a large chunk of what made Tumblr interesting and different, its adult community?
- Yeah. That didn’t work: Verizon has decided to sell off Tumblr after already writing it down substantially.
- It’s bad: Axios reports the deal with Automattic Inc., owners of WordPress, was for as little as under $3 million for the blog site. We don’t exactly know Verizon paid, but safe to say hundreds of millions have been lost on the Tumblr purchase between Yahoo and Verizon.
Here’s Verizon Media CEO Guru Gowrappan doing his best to explain:
- “Tumblr is a marquee brand that has started movements, allowed for true identities to blossom and become home to many creative communities and fandoms,” said Verizon’s Gowrappan in a statement.
- “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 …read more
Source:: android authority