Tumblr was once worth more than $1 billion, but the site has faded in popularity and Verizon is shopping it around.
The sale process comes as Verizon Media Group looks to cut costs and improve its finances related to properties formerly under the Oath banner that combined Yahoo and AOL. The group laid off 7% of its workforce in January,At the end of 2018, Verizon said it wouldTumblr was founded in 2007 and grew in popularity when microblogging was a popular trend on the internet. The platform currently has 465.4 million blogs and 21.6 million daily posts.
Tumblr took a major hit in the first quarter of the year after it banned Not Safe For Work content from its platform. Its daily visitors dropped by 30% between December 2018 and March 2019,
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