Yahoo bought Tumblr for $1.1B, six years later, owner Verizon to sell Tumblr for a few million

This is an incredible story. At the heart of it: Pornography.

Yahoo bought Tumblr which, back in 2013, was a hotbed for pornography. Yahoo banned porn, and site traffic plummeted.

According to the linked Wall Street Journal article:

Verizon Communications Inc. has agreed to sell its blogging website Tumblr to the owner of popular online-publishing tool, unloading for a nominal amount a site that once fetched a purchase price of more than $1 billion.

So what’s a nominal amount? According to Axios:

Verizon is set to sell the social network Tumblr to Automattic Inc, the owner of online publishing tool WordPress. A source familiar with the deal puts the price-tag “well below” $20 million, while another source puts it below $10 million.

And according to this tweet, the price “tumbld” to less than $3 million. Wow!