2023-05-07 22:22:09
In 2013 Yahoo! bought Tumblr, then quite a popular image- and post-sharing platform, for $1.1 billion. But from then on, it was the beginning of the end for Tumblr. Already in 2016 it was worth 230 million dollars less, but in 2018 it was removed from the app stores on charges of excess porn and especially child pornography. A month later, Tumblr responded by outright banning sexual-themed content, resulting in users abandoning the platform en masse and traffic plummeting by 30 percent. In 2019 Verizon bought Yahoo, and decided to resell Tumblr to WordPress for less than $3 million. Marissa Meyer, who was CEO of Yahoo at the time of the Tumblr acquisition, recently acknowledged in an interview that the idea of buying Tumblr instead of Netflix or Hulu, which were in their infancy and rapidly growing at the time, was a huge mistake. Had the company nailed the purchase of the right company, Meyer reflects, it probably wouldn’t have had to sell all of its assets to Verizon and would still be independent now. Of course, Yahoo has made the history of the Internet, but has not managed to remain the protagonist to this day.
#bought #Netflix #Tumblr