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Verizon tanks 98% loss on tumblr value

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>Verizon will sell the image-centric blogging website Tumblr to Automattic, owner of the blogging tools suite WordPress, according to the Wall Street Journal. The terms of the sale were not disclosed, but Axios reports the amount was "well below" $20 million.
>That would be a staggering discount against the $1.1 billion paid for Tumblr by Yahoo in 2013 as part of an ambitious turnaround effort by Yahoo's then-CEO Marissa Mayer. But Mayer’s turnaround foundered, and the Tumblr deal in particular was a flop. By early 2016, Yahoo had written down Tumblr’s value by $230 million, and by 2017, all of Yahoo was sold to Verizon for just $4.48 billion.

Today's lesson is: don't fuck with porn, your conservative customers aren't worth shit