Investors pour $85 million into Tumblr

Sep 26, 2011
Tumblr CEO David Karp (L) and TechCrunch writer Jason Kincaid attend the technological conference TechCrunch Disrupt in New York City in May 2011. Tumblr on Monday announced a fresh round of funding that poured $85 million into the fast-growing online service for sharing pictures, videos, written musings and other digital snippets.

Tumblr on Monday announced a fresh round of funding that poured $85 million into the fast-growing online service for sharing pictures, videos, written musings and other digital snippets.

Greylock Partners and Insight Venture Partners led the investment round, which included infusions of cash from Peter Chernin's investment business and English billionaire Sir Richard Branson.

The money will be used to ramp-up the service founded in New York City by David Karp in 2007.

"Tumblr has grown into a revolutionary service for self-expression that is changing the social landscape around the world," said Deven Parekh of Insight.

"We're excited to be a part of the future of the company, and to include Tumblr among our list of investments that, like and Flipboard, are fundamentally changing the social paradigm on the Web," he said.

The number of Web pages viewed monthly at Tumblr has rocketed to 13 billion from two billion at the start of the year, according to Karp.

The approximately 30 million blogs at Tumblr generate more that 40 million posts daily, according to the microblogging service.

"From the early users signing up to easily share all of the things they cared about, to the global community today... it's been a remarkable four years," Karp said.

The staff at Tumblr has grown to 50 from 15 in the early days and the startup is working on "our biggest project to date," Karp said, without divulging details.

"It's amazing how quickly it's become part of the fundamental infrastructure of the Web," Greylock partner John Lilly said of Tumblr.

"We see some of the same early dynamics in Tumblr that led us to invest in , Pandora, and , so are very excited to add Tumblr to that list."

Explore further: Facebook tuning mobile search at social network

add to favorites email to friend print save as pdf

Related Stories

Art project draws US Secret Service interest

Jul 08, 2011

A New York electronic artist who took pictures of shoppers using computers in Apple stores as part of a project has drawn the attention of the US Secret Service.

Recommended for you

'SwaziLeaks' looks to shake up jet-setting monarchy

18 hours ago

As WikiLeaks founder Julian Assange prepares to end a two-year forced stay at Ecuador's London embassy, he may take comfort in knowing he inspired resistance to secrecy in places as far away as Swaziland.

Ecuador heralds 'digital currency' plans

18 hours ago

Ecuador is planning to create the world's first government-issued digital currency, which some analysts believe could be a first step toward abandoning the country's existing currency, the U.S. dollar, which ...

WEF unveils 'crowdsourcing' push on how to run the Web

Aug 28, 2014

The World Economic Forum unveiled a project on Thursday aimed at connecting governments, businesses, academia, technicians and civil society worldwide to brainstorm the best ways to govern the Internet.

Study: Social media users shy away from opinions

Aug 26, 2014

People on Facebook and Twitter say they are less likely to share their opinions on hot-button issues, even when they are offline, according to a surprising new survey by the Pew Research Center.

User comments : 0