Verizon trades Tumblr, sells social media website to Automattic

	
Verizon company sold off its acquired microblogging and social networking website, Tumblr to Automattic Incorporation.
	
The offer price has not yet been disclosed but the reports estimate it to be under USD 3 million.
Verizon communications owned Verizon Wireless is reportedly trading Tumblr, the social media platform and microblogging website, shortly buying it as part of its USD 4.48 billion Yahoo acquisition. Tumblr has been acquired by Automattic; the web services company known for running Wordpress.com.
The financial terms of the deal have not yet been disclosed.
Confirming the news, Matt Mullenweg, Chief Executive of Automattic Incorporation reportedly quoted that when the plans on collaboration were confirmed, it seemed as an opportunity for the company to have 2 platforms to work together with each other to develop and create a better and more open web portal for the customers.
Meanwhile, Jeff D’Onofrio, Chief executive of Tumblr cited that he was excited for the new journey of the company and the entire community. He reportedly added that Tumblr and WordPress share the same principles and that the company is super confident to provide an exquisite experience to the customers.
As per authentic sources, Tumblr is the second most important Yahoo property to be acquired by Verizon. Tumblr has completely managed to uphold the bulk of its userbase through most of the years of its Yahoo ownership.
According to trusted reports, Verizon in 2018 declared a plan to forbid the adult content from the website after child pornography was found on the social media resulting into a temporary ban of Tumblr from Apple's Appstore.
In spite of the fact that Automattic permits grown-up substance on its WordPress.com stage, the company clarifies that it has no motives to invert the restriction on such substances on Tumblr everywhere.
It has been reported that although the acquisition value was not disclosed, it could be anywhere under USD 3 million.
Source credit: https://www.theguardian.com/technology/2019/aug/12/verizon-tumblr-sale-automattic