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Tumblr sold twice within a decade, could blockchain have saved it?

Verizon media the parent company of Yahoo announced that they have sold Tumblr to Wordpress for speculated amount of 20 milli
Verizon media the parent company of Yahoo have sold Tumblr to Wordpress for speculated amount of 20 million dollars

Six years ago, Yahoo purchased the blogging social network Tumblr for 1.1 billion dollars. Verizon media the parent company of Yahoo announced that they have sold Tumblr to WordPress. Both the companies did not disclose the financial terms at which the deal was made. Many reports circulating on the internet claims that the Automattic, parent company of WordPress bought Tumblr for less than 20 million dollars, which is far less than what Verizon bought it for.

Automattic CEO Matt Mullenweg announced in his Tumblr post that their company is acquiring Tumblr. He wrote that it was a once in a generation opportunity that he could not pass. Tumblr did not become a mainstream platform and was unable to grow under Yahoo. But still, the multimedia blogging platform has an active dedicated community.

Tumblr’s image has also taken a hit as the company has been sold twice within a decade. Tumblr, which was in the news a few years ago for banning adult content, has also been a reason for users to turn away.

Could blockchain have saved Tumblr?

Tumblr was founded back in 2007 by then 21-year David Krap and then later struck a massive deal with Yahoo when he sold the company in $1.1 billion. Tumblr never became mainstream as other social media platform like Instagram.  From the last two years, companies have been turning to ICO for raising funds. Telegram in 2017 raised nearly 1.7 billion dollars through ICO. According to many experts, Tumblr could have also raised massive capital if the company had adopted blockchain and had offered an ICO.

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