Verizon to sell Tumblr to WordPress owner Automattic for undisclosed amount



Verizon Communications Inc said on Monday it would sell its blogging website Tumblr to Automattic Inc, the owner of popular online-publishing tool WordPress.com.
The company did not disclose the terms of the deal.
Verizon Media Group, formerly called Oath, is the digital media umbrella that owns more than 50 brands, including HuffPost, TechCrunch and Tumblr.
Tumblr was acquired by Yahoo for more than $1 billion in 2013 and Verizon acquired it as part of its deal for Yahoo in 2015.
Article Source -> Business Standard

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