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Report: Verizon wants to sell Tumblr ASAP

Report: Verizon wants to sell Tumblr ASAP
[Photo: StockSnap/Pixabay]

Verizon Communications is seeking a buyer for its failing blogging site, Tumblr, reports the Wall Street Journal. The paper cites “people familiar with the matter” though those same people didn’t say whether any outside company has expressed interest in the sale.

Verizon came to own Tumblr after its acquired Yahoo in 2017. Yahoo itself came to own Tumblr after it acquired the blogging site for $1 billion in 2013. But after Verizon got its hands on Tumblr, the media giant implemented a much-criticized porn ban on the platform late last year. Since then, the site’s traffic has plummeted–down 40% year-over-year last quarter, according to SensorTower’s data.

Needless to say, in the time Verizon has owned Tumblr, the site hasn’t been a moneymaker. The Journal cites that as the main reason the company is looking to unload the once-loved blogging site. But for now, at least, it appears Verizon is stuck with a platform it neutered.

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