Tumblr is changing hands once more, and Yahoo parent company Verizon is reportedly offloading it for less than one percent of what Yahoo paid for the company in 2013.
The buyer, according the Wall Street Journal, is San Francisco-based Automattic Inc., which owns and operates the content management and publishing software Wordpress. The company is reportedly taking on all of Tumblr's 200 employees, and the purchase price of the company was undisclosed — though Axios pegs it as below $10 million. (Axios business editor Dan Primack heard it was actually just $3 million.) That would mean that Tumblr is worth less than one percent of the $1.1 billion Yahoo bought it for six years ago — but as Axios says, that purchase price was shocking even then, given that Tumblr was only making about $13 million a year in revenue at that point.
Much of Tumblr's content over the years has of course been porn, and the platform's user base dwindled significantly in the first months of this year after Verizon instituted a ban on adult content. Automattic CEO Matt Mullenweg tells the Journal that he plans to keep the porn in place. He says he sees the site as complementary to Wordpress, and as a longtime Tumblr user he says it's "just fun" and he is "not going to change" any of Tumblr's functionality or character.
Earlier this year, PornHub had reportedly made an offer for Tumblr, even though Verizon appears to have cleansed the adult content in order to ready the company for auction.
As it stands, Twitter is the only large social media platform that still allows adult content.