Verizon Media and Automattic, the parent company of WordPress, have announced that they have entered into an agreement to acquire Tumblr. Terms of the deal were not disclosed.
Automattic CEO Matt Mullenweg said: “Tumblr is one of the Web’s most iconic brands. 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.”
Tumblr is a media network powered by a massive community of independent creators and home to 475 million blogs.
Verizon Media CEO Guru Gowrappan commented: “Today’s announcement is the culmination of a thoughtful, thorough and strategic process. 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.”
Verizon Media houses a media ecosystem reaching nearly one billion consumers through its premium brands – including Yahoo, HuffPost, TechCrunch and AOL.