Yahoo Regrets Buying Tumblr
Yahoo Once Considered Buying Netflix - but Unfortunately Acquired Tumblr Instead, Ex-CEO Says https://t.co/zKAb1dXbMh
- Variety (@Variety) May 6, 2023
• Yahoo CEO Marissa Mayer bought Tumblr for $1.1 billion in 2013
• Yahoo wanted a "transformative acquisition" and also considered buying Netflix or Hulu
• Yahoo tried to launch their own streaming platform, Yahoo Screen, but it failed to gain traction
• Yahoo hoped Tumblr would be its anchor entrée into social media but it struggled to monetize it's user base
• In 2015, took a $230 million goodwill-impairment charge and Verizon ended up buying Yahoo in 2017 for $4.5 billion
• In 2019, Verizon sold Tumblr to Automattic, the company that owns and operates online-publishing platform WordPress, for a reported $3 million
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