Blog Service Tumblr Raises $85 Million
Tumblr is a popular blogging service that has raised $85 million in a new round of funding. Tumblr is best known for simple blogging tools to post photos, videos, songs, etc. The investment in this round was led by Greylock Partners. Insight Venture Partners, the Chernin Group, Richard Branson, Spark Capital, Union Square Ventures, and Sequoia Capital also participated in this round.
Tumblr founder David Karp said that this extra round of funding “allows us to continue to scale our business and give real focus to the further development of Tumblr.”
Traffic increased to 13 billion page views per month. There are now 30 million blogs that have been created using Tumblr. Across these 30 million blogs, 40 million posts are being generated per day. About 623 million minutes per month are being spent by people looking at Tumblr blogs.
“Tumblr has come far since we began our journey,” said Mr. Karp. “From the early users signing up to easily share all of the things they cared about, to the global community today where creators have an incredible opportunity to reach an audience of hundreds of millions, it’s been a remarkable four years.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry