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Automattic Inc. to acquire Tumblr from Verizon

WordPress parent company Automattic Inc. is set to acquire Tumblr from Verizon. The sale comes as Verizon's focuses on growing its original content and subscription businesses on sites like HuffPost and TechCrunch.

More than 200 staffers who worked on Tumblr at Verizon will reportedly be moving over to Automattic. Read more on Adweek.
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