SAM Daily Times

Tumblr Get $85 Million Funding in Latest Venture Capital Round!

Saad Riaz Qazi
Student Reporter

Tumblr has seen rising popularity in the last few months. Although not a competitor of more popular blogging platforms such as Wordpress and Blogger, it has still made a mark in the blogging industry. Tumblr got some good news this week when it raised funding of around $85 million in a venture capital round which was led by Greylock Partners and Insight Venture Partners, plus the Chernin Group and Sir Richard Branson.

Although the company has not seen a very good revenue yet but its increasing popularity has led the investors to believe that it will be a venture worth the money. According to John Lilly, a partner at Greylock Partners;

“They will succeed in working through that over the next months and years”

The Site has impressive stats for a company that was started just 4 years ago and hosts more than 30 million blogs and has an inspiring 13 billion page views each month.

The company had generated $30 million in its last venture capital round in November 2010.This time the huge increase in funding shows growing trust of investors over the company and satisfaction over its results.