The sale of the social media platform comes almost two years after Verizon's purchase of it from Yahoo back in 2017.
Six years after it was sold to Yahoo for over $1 billion, Tumblr is set to be sold again for a little over what it costs to buy a house in Sydney.
Personal blogging social network Tumblr - a waning haven for artists and fandoms - will exit the portfolio of current owners Verizon and be parted off to Automattic Inc., owners of Wordpress, another blogging platform with social elements, according to the Wall Street Journal.
The site, up until then, remained a go-to for not-suitable-for-work (NSFW) content, and the move reportedly led to an estimated 20 percent drop in users within a matter of months. There was some hope within the Tumblr community that PornHub's potential purchase of the site would result in a return to the old days, but that is looking less likely - at least for now. 200 Tumblr staffers will be joining Automattic as part of the acquisition.
Beyond financial turmoil, Tumblr was pulled from the Apple App Store briefly previous year as it worked to combat child pornography hosted on the platform, an ordeal that led to a new and wildly unpopular site policy banning adult content of all stripes. The platform became a Verizon property with the company's Yahoo acquisition, and the transition hasn't been entirely smooth - Verizon made a decision to ban adult content in 2018, causing an uproar among many users. He says he sees the site as complementary to Wordpress, and as a longtime Tumblr user he says it's "just fun" and he is "not going to change" any of Tumblr's functionality or character.