Big Blog Bet, Round 2! Tiger Global Puts $50 Million Into WordPress.
It’s a big week for blogs: Tiger Global Management has invested $50 million in Automattic, the parent company of blogging platform WordPress.com. Automattic founder Matt Mullenweg said Tiger is buying the shares from early investors and employees, but said the sellers will hold on to “the vast majority” of their Automattic holdings. The announcement comes days after Yahoo’s $1.1 billion acquisition of Tumblr (CORRECTION: A previous version of this story incorrectly reported that Tiger Global was associated with Tiger Management founder Julian Robertson).
