In the underlying technology of our platforms, I think there are some good opportunities to standardize on the Open Source WordPress tech stack, but the front-end user experience on Tumblr will evolve on its own path. The Verizon-imposed porn ban will stay in place at Tumblr after the deal is completed, the Journal wrote.
The company did not disclose the terms of the deal, however, USA news site Axios has reported the social media site may have sold for less than US$10 million.
Tumblr's popularity has been dwindling over the years, and a decision by the firm last year to ban all adult content as it scrambled to crack down on child pornography came as a particularly hard blow.
And although PornHub showing interest in Tumblr earlier this year led to some new hope for Tumblr users, the latest acquisition of Tumblr will break all those dreams.
Verizon is selling off the blogging platform Tumblr to WordPress.com's parent company, Automattic.
As part of the deal, Automattic will take on 200 Tumblr staff. Tumblr has also been overshadowed by Twitter.
'Today's announcement is the culmination of a thoughtful, thorough and strategic process, ' added Verizon Media CEO Guru Gowrappan. Tumblr is a marquee brand that has started movements, allowed for true identities to blossom and become home to many creative communities and fandoms.
Verizon said Tuesday it will sell microblogging platform Tumblr to Auttomattic, consolidating it with two companies that are "philosophically aligned". (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.
In a statement, Verizon described Automattic as "the ideal partner" and said that the new deal was "the culmination of a thoughtful, thorough and strategic process".