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Venture-backed WordPress operator Automattic gets $50m Tiger investment

28 May 2013

computers_lrgVenture capital-backed WordPress.com blog operator Automattic has picked up a $50m investment from private equity and hedge fund Tiger Global Management.

The blogging platform, which is celebrating its tenth anniversary this year, is the most widely used in the world according to Reuters, which cited research by UK company Kingdom.

Automattic is backed by investors including True Ventures, Polaris Partners and the New York Times Co, and is used by companies including CNN and Techcrunch.

Tiger’s investment values the company at a similar price to the $1.1bn valuation of blogging site Tumblr following its acquisition by Yahoo last week, Fortune said.

WordPress founder Matt Mullenweg wrote on his blog that the investment allowed some stakeholders to exit rather than directly provide new funds to the business.

He said, “Allowing early investors to lock in some returns releases any short-term pressure there might be on the company for a liquidity event and allows us to focus fully on the long road ahead.”

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