Last updated on August 23rd, 2019 at 11:51 pmReading Time: 2 minutes
Recently Verizon has agreed to sell Tumblr to the WordPress owner Automattic Inc for a $3 million. This report has been published in the Wall Street Journal report and it has come as shocking news to the surface.
Tumblr was acquired by Verizon in the year 2017 after Yahoo was purchased and it started exploring the sale earlier this year. It is reportedly bought a tumblr for less than 3 million dollars according to a news and the value has been calculated to go through a drop of 1.1 billion dollars than what Yahoo paid for it in 2013.
Tumblr is a brand that has grown and started movements and it has also been able to collaborate with the number of Creative communities and forums. Verizon media CEO declared in a statement that they are very proud of the team and has been able to bring and expertise that will bring about new possibilities for all the users. It is a very influential forum that has brought the blog into a global platform and it has expanded under the supervision of Verizon and Yahoo. GIF collaborated in the best manner it will be able to give breakneck competition to the platforms like Snapchat, YouTube and Instagram and can become a very good cultural platform.
Verizon has got into the leadership last year and it decided to eliminate all sorts of adult content. Tumblr has been able to prove itself absolutely safe for the LGBTQ community members and that is why it has been able to gain a lot of popularity as well. The decision to acquire tumblr by Verizon is a welcoming change and it is something to look forward to so that the future of the industry can be bright.