Verizon is selling blogging site Tumblr to the owner of WordPress for a 'nominal' amount of money

david karp tumblr

Reuters/Robert Galbraith

Tumblr founder David Karp.

Automattic, the parent company of publishing site WordPress, is planning to purchase blogging site Tumblr from Verizon for an undisclosed amount, according to a Wall Street Journal report Monday.

The price of the acquisition is unclear, but the report stated it was a "nominal amount" compared to Tumblr's previous $1 billion purchase price by Yahoo several years ago. As part of the deal, Automattic will take on 200 Tumblr employees.
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