Friday, August 26, 2011

Tumblr valued at $ 800 million

Tumblr microblogging site that allows to post web links, photos and videos or short texts, is about to complete a fundraiser that values at $ 800 million (554 million) says, Thursday, Aug. 25, the Wall Street Journal. According to the article (paid access) the business daily, citing sources familiar with the matter, Tumblr will raise between 75 million and $ 100 million (between 52 and 69 million) from investors, representing a valuation of $ 800 million.

The latest round of funding from the company, created four years ago in New York in December gave an enterprise value of only $ 120 million, says the Wall Street Journal. According to the site Crunchbase, Tumblr had previously raised just over $ 40 million. Tumblr is the new example of investor appetite for companies that develop social networks.

According to the specialized site All Things Digital, Twitter was valued at $ 8 billion at the beginning of August, while amounts exceeding the $ 100 billion were advanced by the financial press for Facebook. For comparison, 800 million, the value of Tumblr is similar to that of the media group New York Times, which employs more than 7000 people.

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