Verizon is reportedly looking to sell off Tumblr

(Image credit: David Ramos / Getty Images)

published 2 May 2019

Verizon reportedly wants to do what every young millennial did after 10th grade.

After a few years of reblogging bliss, Verizon is now looking to sell off Tumblr, people familiar with the matter tell The Wall Street Journal. It's unclear just how much Verizon is seeking for the blogging site, but it comes in a long line of selloffs and layoffs for the Verizon-AOL-Yahoo conglomerate formerly known as Oath.

Yahoo bought Tumblr for $1.1 billion back in 2013. But as The Verge puts it, "Yahoo never really knew what to do with Tumblr," and the purchase "did nothing to reverse Yahoo's business fortunes." It ended up writing down Tumblr's value by $230 million a few years later, the Journal notes. Yahoo was then sold to Verizon for $4.8 billion in 2017, and Tumblr was part of the deal. Verizon, too, has since second guessed that enormous purchase.

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Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.

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