Verizon is looking to sell Tumblr after squandering its potential

Verizon is seeking a buyer for Tumblr, the blogging platform it acquired along with other Yahoo assets in 2017. The Wall Street Journal reports that Verizon has approached other companies in recent weeks They could be new potential homes for Tumblr. The platform hosts 465.4 million blogs and 172 billion publications, according to its website. The Journal notes that the sale process "is in progress" and may not result in any transaction.

On Thursday night, Vice President of Pornhub, Corey Price, stated in a statement to BuzzFeed News that his company is "extremely interested" in buying Tumblr and "very much looking forward to one day restore it to its former glory with the content of NSFW. "However, the company did not say whether it actually made a legitimate offer to Verizon.

Price refers to a major change implemented late last year, when Tumblr gave the Controversial step of banning pornography on its platform The company has been using AI to automatically detect and block images and videos that contain certain content for adults Existing publications that contain pornography were made private and are no longer accessible to the public. It resulted in harsh criticism of the company and a sharp drop in web traffic, but Tumblr has not indicated that it plans to reverse its decision. ornhub quickly tried to attract those users that Tumblr expelled.

Tumblr was acquired by Yahoo for $ 1.1 billion in 2013 during the Marissa Mayer era as an attempt to revitalize and guide the newest and youngest users towards the sinking internet base. But Yahoo never really knew what to do with Tumblr, and the microblog site, with its millions of personal blogs and some of the strangest and best things on the Internet, did nothing to reverse the fate of Yahoo's businesses.

Verizon finalized the acquisition of Yahoo for 4,500 million dollars in 2017, which led to its taking possession of Tumblr. Tumblr is currently part of the Verizon Media Group (formerly Oath), the umbrella brand of digital properties that Verizon ultimately controlled after its two purchases of AOL and Yahoo. The Journal notes that Verizon's attempt to download Tumblr occurs while trying to get the best out of its collective media business after a $ 4.6 billion drop last year, which was essentially an acknowledgment that both agreements had been an error. Verizon sold one of its assets from Yahoo, Flickr, to SmugMug about a year ago. Guru Gowrappan, the executive who handled the Verizon Media Group last year, later criticized the sale as too slow without enough reward.

But publicly, Verizon executives remain committed to the properties despite the layoffs that have affected some of the entertainment sites and divisions. "I hope there is no doubt about our commitment to Verizon Media Group and how it fits into our entire strategy," said CEO Hans Vestberg earlier this week, according to the Journal . Tumblr, apparently, is not necessarily part of that strategy. But now the question is whether there is a viable buyer for the platform in 2019 that does not allow it to slowly fade away.

Update on May 2 at 5:30 p.m. ET : The article has been updated to include comments from Pornhub.

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