We’re rich! That’s right, we just got $300 million! Automattic, the parent company of WordPress, scored a $300 million investment from Salesforce Ventures, marking one of the single largest investments to date by the software giant’s venture arm.
As a result of the infusion of funds, San Francisco-based Automattic, which owns WordPress.com and is in a deal expected to close in the next few days to buy Tumblr — did you know that WordPress bought Tumbler? I didn’t — saw its valuation soar to $3 billion.
According to TechCrunch.com, WordPress now hosts 34% of the world’s top 10 million websites. I’d imagine that that percentage is likely to grow with all that new cash.
I wonder if any of that money will be used to address the glitches and quirks of Automattic’s flagship product. Ha! Don’t hold your breath, fellow bloggers.
By the way, that very happy looking guy in the photo at the top of this post is Matt Mullenweg, CEO of Automattic. I’d call that a $300 million dollar smile on his face.