Richard Branson and Peter Chernin are among investors participating in $85 million in new funding for Tumblr, in a round that was led by Greylock Partners and Insight Venture Partners. Returning investors Spark Capital, Union Square Ventures, and Sequoia Capital also participated. This brings Tumblr’s total capital raised to over $125 million.
Tumblr users are numerous and engaged. The company reports having 30 million blogs on its platform and receiving 13 billion page views a month, a leap up from 2 billion page views the same time last year. According to Nielsen, Tumblr accounts for 623 million minutes of the time U.S. Internet users spend online each month.
According to a source reported by the Financial Times, Tumblr’s financing indicates a valuation of about $800 million even without significant revenue.
The platform makes it simple and quick to create a blog and to post content, particularly when it comes to video, photos and audio content as distinct from lengthy blocks of text. There are numerous templates and other customization options, many of which are free with some available for a premium. Tumblr blogs can be browsed by topic and searched across the entire platform, social media integration and a “reblog” button encourages viral spread, and it’s easy to follow any particular Tumblr. For those who would rather not be so social, blogs or individual posts can be kept completely private.
Reuters – http://tinyurl.com/3uyjk4q
Financial Times – http://tinyurl.com/3wmtvhy
AllThingsD – http://tinyurl.com/3k3zgpz