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CEO confirms Tumblr has lost "well north of $100M" since acquisition.

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CEO confirms Tumblr has lost "well north of $100M" since acquisition.

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Tumblr is reportedly on life support as its latest owner reassigns staff::CEO confirms Tumblr has lost "well north of $100M" since acquisition.

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"600+ person-years of effort" have not stopped the site from losing $30M a year.

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This is an automated archive made by the Lemmit Bot.

The original was posted on /r/technology by /u/TheUtopianCat on 2023-11-09 21:01:08.

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It's not quite the end of Tumblr, but when management is supposedly sending memos with the Lord Tennyson quote about having "loved and lost," it doesn't look like there's much of a future.

Internet statesman and Waxy.org proprietor Andy Baio posted what is "apparently an internal Automattic memo making the rounds on Tumblr" to Threads. The memo, written to employees at WordPress.com parent company Automattic, which bought Tumblr from Verizon's media arm in 2019, is titled or subtitled "You win or you learn." The posted memo states that a majority of the 139 employees working on product and marketing at Tumblr (in a team apparently named "Bumblr") will "switch to other divisions." Those working in "Happiness" (Automattic's customer support and service division) and "T&S" (trust and safety) would remain.

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