Verizon is set to sell the social network Tumblr to Automattic Inc, the owner of online publishing tool WordPress. A source familiar with the deal puts the price-tag "well below" $20 million, while another source puts it below $10 million.
-- Ursula Perano, Dan Primack, Axios
Wow! Like I wrote back in December, Yahoo paid $1.1 billion for Tumblr just six years ago. Anyway, the Axios piece goes on to say that Tumblr's 200 employees will go along with the sale. 200 employees at an estimated $10m to $20m valuation? That's an outrageous headcount - I wonder how many are in NYC?