- Tumblr is being sold off to a new owner – Automattic, the company behind website publisher WordPress – for less than $US3 million,Axios reported this week.
- That’s a huge discount compared to the $US1.1 billion that Yahoo (since acquired by Verizon) spent to buy the blogging platform in 2013.
- Here are 13 things – including an empty lot in San Francisco’s Bay Area, a rare bluefin tuna, and a racing horse – that are worth more than Tumblr in 2019.
- Visit Business Insider’s homepage for more stories.
Tumblr’s current owner is Verizon, who took over the platform when it acquired Yahoo in 2017. But Verizon has apparently been looking to unload Tumblr since the beginning of this year, and now has agreed to sell it to Automattic, the company that oversees website publisher WordPress.
Tumblr has more than 475 million blogs using its service, but the platform’s value has plummeted since its glory days. Tumblr lost droves of users following its the decision last December to ban any posting of “adult content,” defined as media that depicts “real-life human genitals or female-presenting nipples.” Automattic’s CEO Matt Mullenweg has already shut down any hopes that Tumblr reinstate NSFW content under its new owner, saying that“adult content is not our forte.” Business Insider has reached out to Tumblr for comment on the company’s dropoff in valuation.
It remains to be seen how, or if, Tumblr changes under its new owner. But to put Tumblr’s current valuation into perspective, check out this list of items worth more than Tumblr’s reported sub-$US3 million price tag.
$US58.4 million — ‘Balloon Dog’ sculpture
A piece of artwork from famed sculptor Jeff Koons sold at a Christie’s auction in 2013 for $US58.4 million.The sale set a record for the most expensive piece of art by a living artist sold at auction.
The artwork, called “Balloon Dog (Orange),” is 12-foot-tall orange metallic sculpture designed to look like a balloon animal.
$US10 million to $US20 million — Reddit when it was acquired in 2006.
Publishing powerhouse Condé Nast purchased mega-forum platform Reddit in 2006 for a price estimated between $US10 million and $US20 million.
The difference in price between Reddit and Tumblr makes sense: Reddit saw almost 1.7 billion visits in July, while Tumblr had around 380 million visits last month, according to web analytics firm Similar Web.
$US9 million — An empty lot in Palo Alto
The lot is completely bare, and is listed for $US9 million.Realtors have said the price is so high because of its neighbourhood: It’s in Old Palo Alto, home to some of the tech industry’s most rich and most famous, and is only blocks from Stanford University’s campus.
$US8.9 million — Amazon CEO Jeff Bezos’ earnings in one hour.
But calculations by Business Insider in January broke down how much Bezos makes every second of every day. The estimations found Bezos earned almost $US2,500 every second, and $US8.96 million each hour. Current estimates are likely slightly lower than these projections: Bezos’ net worth was $US137 billion in January, but stands at $US110 billion at time of this article’s publication.
$US8.4 million — A thoroughbred racing horse
In 2013, a one-year-old thoroughbred horse was purchased in the United Kingdom for a record-at-the-time $US8.4 million. The horse was sold to Sheikh Joaan Al Thani, a member of Qatar’s royal family, and set a record for the highest price for a horse in European auction history.
$US5 million — Beyonce’s wedding ring
Beyoncé and Jay-Z got married in a secret ceremony in 2008, and the wedding ring that appeared on Beyoncé’s finger afterwards was hard to miss. The jeweller behind the 18-carat diamond ring priced the rock at more than $US5 million.
$US4.5 million — 2014 Lamborghini Veneno Roadster
When the 2014 Lamborghini Veneno Roadster debuted at a Geneva auto show, the car was priced at $US4.5 million. The car is open-air, and can reach maximum speeds of 221 mph, but the carmaker says it’s “fully road legal.”
Only nine of the ultra-exclusive car were put in production.
$US3.9 million — an 1,850-square-foot New York City apartment
Units at Gramercy Square, a massive building located in New York’s Gramercy neighbourhood, range in price from $US1.4 million studios to $US6 million four-bedrooms. One two-bedroom unit measuring 1,850 square feet is currently available for an asking price of nearly $US3.9 million.
$US3.5 million — A platinum bottle of Ley tequila
Luxury tequila brand Ley produced the most expensive bottle of tequila in the world. While the tequila is top-notch liquor, the bottle itself puts the purchase at $US3.5 million. The two-piece Ley Diamante bottle is made of platinum and features more than $US4,000 white diamonds.
$US3.2 million — A diamond-encrusted iPhone 3GS
Designer Stuart Hughes is known for producing luxury electronics, yachts, and clothing for the world’s richest. The Goldstriker iPhone 3GS Supreme was created in 2009 for an Australian businessman. The phone was outfitted with over 130 individual diamonds, including a rose gold Apple logo and a gold home button.
$US3.2 million — First-edition Superman comic
The comic book in which Superman makes his debut sold for $US3.2 million on eBay in 2014. The comic book, “Action Comics #1,” cost 10 cents when it was first released in 1938. There’s estimated to only be about 50 to 100 copies around today of the original Superman comic.
$US3.1 million — A 613-pound bluefin tuna
The owner of a chain of sushi restaurants bought a bluefish tuna in January at an auction in Tokyo. The fish weighed 613 pounds, and sold for $US3.1 million. Kiyoshi Kimura, who bought the fish, told reporters he paid “a little too much.”
$US3 million — Victoria’s Secret 2016 fantasy bra
Each year (except for this year), the Victoria’s Secret Fashion Show spotlights a multi-million Fantasy Bra laced with Swarovski diamonds and other pricey jewels. One of the most expensive bras in recent years is the 2016 Bright Night Fantasy Bra, worn by model Jasmine Tookes.The $US3 million bra reportedly took over 700 hours to make, and sported more than 9,000 gems.
However, the 2016 bra isn’t actually the most expensive bra to grace the VS catwalk: Those in other shows, worn by big name supermodels like Heidi Klum and Gisele Bundchen, have topped $US10 million.