Verizon Seek Buyer For Tumblr After Ruining It

The Verge reports:

Verizon is seeking a buyer for Tumblr, the blogging platform it acquired along with other Yahoo assets in 2017. The Wall Street Journal reports that Verizon has approached other companies in recent weeks that could be potential new homes for Tumblr.

The platform hosts 465.4 million blogs and 172 billion posts, according to its about page. The Journal notes that the sale process “is ongoing” and might not result in any transaction.

Verizon finalized its $4.5 billion acquisition of Yahoo in 2017, which led to it taking ownership of Tumblr. Tumblr is currently part of Verizon Media Group (formerly Oath), the umbrella brand for digital properties that Verizon ultimately controlled after its two buyouts of AOL and Yahoo.