Verizon selling Tumblr after two years of acquisition -

It seems as if Verizon is feeling quite a bit of remorse after buying Tumblr.

On Thursday last week, a report from the Wall Street Journal stated that the Telecom giant after two years of acquiring the blogging site Tumblr is now looking to offload it from their hands.

According to the further report of the Journal, Verizon is looking or a buyer but there is particularly no new buyer for the site and they might actually not find a suitable one in the future. Still, the company is diligently looking into selling this site.

Tumblr was founded way back in 2007 and was later purchased by Yahoo for a massive sum of 1.1 billion dollars back in 2013. At that time the CEO of the yahoo was Marissa Mayer and they thought that this could be a breakthrough in their business. However, the things did not go as they planned it for.

Missteps like managerial problems as well as lack of making Tumblr into a money making machine proved to be quite a problem for Yahoo during the tenure of Marissa Mayer and in the end, Tumblr was nothing but a dud for Yahoo. While not a great money-making blogging site, Tumblr kept on to be competitive against giants like Instagram and Facebook. Still, it led to yahoo underwriting the acquisition amount of 1.1 billion dollars to be at a price of 200 million dollars less back in 2016.

Yahoo was ultimately bought by Verizon and Tumblr also came under the corporate umbrella of the telecom giant. The site did not prove to be a great fit for the telecom industry and all hell broke loose when Tumblr last year decided to ban the entire adult content from its servers regarding the concerns of child pornography.

Now Tumblr might not have a section for adult content, it can still be a murky investment for any potential new buyer. In addition to adult content, Tumblr also contains a source enriched with memes, GIFs as well as anything else that internet offered over the years.