According to reports by Business Insider, Telecommunication Company, Verizon Communications is looking to sell out the company Tumblr it acquired a couple of years ago.
Tumblr is a blogging platform which currently has 465.4 million blogs and 21.6 million daily posts.
Tumblr merged with Verizon when it bought Yahoo in 2015. Yahoo paid $1.1 billion for Tumblr in 2013. Within the last three years, the website value was down by $230 million and Tumblr soon declined in fame.
David Karp, founder of Tumblr, who left the company in 2017 after Verizon acquired it said the major cause of Tumblr losing popularity is when the company banned porn from its website.
The Wall Street Journal reports that Verizon has approached other companies to find a new owner of Tumblr. The process of sale is still on.