Disaster Tumblr being sold to Automattic Inc. (Wordpress) by Verizon for reportedly less than $20 Million, six years after being bought for $1 Billion - Tumblr tumbling down, tumbling down, tumbling down

Tasty Tatty

kiwifarms.net
Bah, tumblr as a platform was a good idea. It was light, simple, and precise for some microblogging or curating. If you just wanted to have a simple journal without making it so complicated, tumblr was perfect. The problem was when all the nutjobs arrived and brought their autism. All internet good ideas are ruined by the same kind of people. They bring their grievances and sensibilities and ruin it for everybody else.

The lesson to be learned: GATEKEEPING (not moderating) IS GOOD.

So Wordpress essentially absorbed one of their biggest competitors.. Interesting..
I hear wordpress wants to use tumblr's app infrastructure for their own stuff which is why they bought it.
IICR, wordpress already had the same features tumblr did. Or, rather, you could make a tumblr-like blog with wordpress. I remember because I managed a wordpress blog for my job some years ago and it had the same post options as tumblr. I haven't used wp since then, so I don't know how that changed.
 

Kosher Dill

Potato Chips
True & Honest Fan
kiwifarms.net
So they paid $3 million, and got what?

That's $15k per staffer. The company wasn't even worth enough money as a year of poverty level wages to the danger hairs running it. And that's before they take out the value of the hardware, software, and whatever IP they own.
Yeah, I just want to underline that point. The physical assets owned by Tumblr are probably worth more than $3 million.
Check out their New York office:
Fancy adjustable desks for everyone, Apple computers (and all the network appliances connecting them together), designer furniture, and so on. It surely adds up.
It wouldn't surprise me if the actual value of Tumblr, the internet site itself, is negative.

EDIT: if you look at the financial statements from when Yahoo bought Tumblr in 2013, they listed $76 million of "tangible assets". A lot of that has surely been stripped and sold off already, but you get the idea. They had about the same number of employees then as now.
 
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YooA

kiwifarms.net
Whenever a studio, company, or individual starts to shoehorn SJW beliefs people are quick to point out that its a total waste of time money and energy because SJW's don't actually buy or care about the product. What I find hilarious about this situation is that apparently SJW's don't even buy their own products HAHA I hate this cultural infection of weird leftist ideology so I'm extremely satisfied to see Yahoo humiliated in this way. These kinds of communities are completely toxic (to making money). I look forward to the resignation of the Yahoo CEO after a few more inevitable billion dollar blunders.
 

Rogue Boob

Bish, please.
kiwifarms.net
“It is an essential venue to share new ideas, cultures and experiences...
Not if you're white, you racist appropriating shitlord.



...helping millions create and build communities around their shared interests. We are excited to add it to our lineup, which already includes WordPress .com, WooCommerce, Jetpack, Simplenote, Longreads, and more.”
Please, don't taint Wordpress. Jesus Christ, just let Tumblr die already.
 

Maggots on a Train v2

new and improved account
kiwifarms.net
Yeah, I just want to underline that point. The physical assets owned by Tumblr are probably worth more than $3 million.
Check out their New York office:
Fancy adjustable desks for everyone, Apple computers (and all the network appliances connecting them together), designer furniture, and so on. It surely adds up.
It wouldn't surprise me if the actual value of Tumblr, the internet site itself, is negative.

EDIT: if you look at the financial statements from when Yahoo bought Tumblr in 2013, they listed $76 million of "tangible assets". A lot of that has surely been stripped and sold off already, but you get the idea. They had about the same number of employees then as now.
This is identical to how etsy went years with absolutely 0 tech/customer support, and would pay somebody to nuke any tech support questions off their forums, while they paid to decorate their Brooklyn HQ as the biggest hipster daycare on the planet, and worked their way up to 100+ employees. All these hipster companies are businesses second, social clubs first.
 

bitchtitsdontcount

breast cancer awareness
kiwifarms.net
Anyway, good luck to the next company that buys it for $50,000.
Someone buying it to mess with the genderspecials and delete all their carefully curated content of pastel girlpickle cotton ceiling memes and sparkly softboi uwu yaoipedo shit, that would be beautiful.

So, tumblr sold for the price of a mid-size California home....
Neither are worth it.
 

Glad I couldn't help

Now with edge anime avatar
kiwifarms.net
YouTube could fall like Tumblr...
No, they are safe. Even more than Facebook wrt social media, they have a practical monopoly on online video. Most likely because the costs of having a video streaming site are so high you need to have a conglomerate like Google behind it to help absorb the costs.
 

DCD

kiwifarms.net
Verizon was embarrassed by it and just sold it for peanuts, they didn't care. Same thing happened with WCW - post-merger AOL/Time Warner structure desperately wanted it out. It's hardly an embarrassment, because everyone called it back in 2013.

The actual embarrassment was buying it in the first place for $1.1 billion IN FUCKING CASH (Facebook bought Instagram for 100 million less and that was cash and stocks). Like how in the name of fuck the board approved this?
 

Safir

True & Honest Fan
kiwifarms.net
It showed just how fast a website can fall apart once it gets rid of the reason people visit it.
Tumblr was never profitable and never had a pathway to profitablity. It was always "run ads" (on copyrighted content) and it was always imploding. The porn ban was when some of the bigger pieces fell on the ground, is all.

Please, don't taint Wordpress. Jesus Christ, just let Tumblr die already.
You know we have a whole subforum about Wordpress's No 1 taint, right?
 

Absolutego

kiwifarms.net
Let's not forget that Verizon paid over A BILLION dollars for a site that sold for $3 million a few years later. Blunder of the century?

Anyway, good luck to the next company that buys it for $50,000.
Someone at Verizon probably got millions in bonus when they paid a fucking billion for Tumblr. The world is mad.
Verizon didn't buy Tumblr, Yahoo did, back when they were still independent. I'm not sure what Verizon was after when they bought Yahoo and all its subsidiaries in 2017, but it's almost certain Tumblr was just included out of convenience rather than having high hopes in its future.
 

TowinKarz

Thoroughly Unimpressed
kiwifarms.net
I haven't seen schadenfreude like this since California sports venues spent 4 years at the end of the .com era still branded with companies that no longer existed but had to contractually keep calling themselves things like "Socks4life.com Stadium" until the vestigial remains of the company were finally dissected to the last bit in a bankruptcy court and they could resell the naming rights to something no less mercenary, but at least not as obviously and humiliatingly a failure.

All these hipster companies are businesses second, social clubs first.
Much like how the above mentioned .com boom/bust happened because people were enamored with the idea of the internet as this new thing that was so revolutionary that it had to also be immune to everything we'd been told about business for the previous 200 years.... the people who set up social media firms likewise thought that this new diverse age of woke progressiveness was just so radical and utopic that profit itself would be assured if you just attracted that particular demo with beanbag chairs and office walls you were encouraged to write sappy pro-trans poetry on, and are now just as confused as pets.com as to where all these unpaid bills keep coming from.....

The actual embarrassment was buying it in the first place for $1.1 billion IN FUCKING CASH (Facebook bought Instagram for 100 million less and that was cash and stocks). Like how in the name of fuck the board approved this?
The board that paid a billion for this did so because they honestly feared they were too dumb to see the genius in this new business model and lived in fear not that they'd lose a billion bucks, but, that Tumblr would go to their biggest rival and sell for THREE billion and become the TRILLION dollar cashcow that THEY would forever be mocked as having "Passed up on for a THIRD of that price back in 20XX"

It wasn't because it sounded good, the fact they may look foolish in 10 years just sounded worse (and they still ended up that way, what bitter irony)
 
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TowinKarz

Thoroughly Unimpressed
kiwifarms.net
Do you guys think there's no way to actually monetize Tumblr ?
I
Social media is just trying to monetize the internet itself instead of offering a real service that is purchasable over the internet. Social media is just the .com mistakes all over again. There's a reason that the internet put a lot of retailers out of business, but, trying to sell the internet itself doesn't work because so much of what fundamentally is internet culture (or was in the 90's when it reached maturation) is anti-corporate (no rules, no TOS , no exclusivity deals, no ads) and runs coutner to the ethos and model of every for-profit company. The big tech firms have been trying to shoehorn that shit in there and it just won't work.

The internet is like the phone company, you can make a profit selling access to the phone network, and businesses need a phone number to deal with customers, but you ultimately can't police/sell what's being SAID on the phone lines. People don't want that, much less want to PAY for that.

But the Zucks and Dorseys of the world keep THINKING you can. You just need the right data to target the right people with the right KIND of ads, the right KIND of political propaganda..... and they'll love it!

Never mind that anyone old enough to remember the age of telephones also remembers that AT&T never inserted ads you had to sit through before connecting to your Grandma, or blocked you from calling Uncle Pulltab to ask if you can borrow his air compressor because his sexist views on women (because he bought the Dallas Cowboys Cheerleader calendar every year) were "not permitted on this diverse and caring network"

THat wouldn't have worked then

The 21st Century version of that shit ain't working NOW.

The "FREE" label means very little when you get the kind of "service" associated with "Free" - lousy.

I'd pay a yearly subscription, just like I do to software suites I use, to use some kind of YouTube or FB analogue if it agreed to run by 90's TOS' , namely, anything not illegal goes, none of this "Anything, but, No hurtin' fee-fees" garbage" we have right now.
 
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