Update 2: Peter Kafka says the numbers are higher than Primack reported – $20 million at a $140 million valuation.
Peter is confident in his numbers and we’re a bit annoyed with our source, who told us Primack was “way off.” Hardly.
Update: Earlier today, we relayed a report that Sequoia’s big investment in Tumblr was a $25 million to $30 million infusion at a $135 million valuation.
Those numbers are “way off,” a very good source close to the company tells us.
Unfortunately, this source would not tell us in which direction. We’ll update if we hear more.
Earlier: The details are out on Tumblr‘s new round of funding, and they are pretty staggering: Tumblr’s series C brought in $25-$30 million at a whopping $135 million valuation, Fortune’s Dan Primack reports.
That’s a staggering amount of money — Tumblr’s series B brought in just $5 million, and was just seven months ago.
It’s not at all clear that Tumblr has a need for that kind of cash. But with traffic growing incredibly quickly, investors were fighting to get into the company.
The company hasn’t yet worked out any real revenue model. Then again, neither has Twitter, and that seems likely to work out pretty well for its investors.
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