> I suppose if Verizon is taking the tax deduction on an original $1.1 billion purchase by Yahoo Yahoo wrote down almost the entire value of Tumblr before the

> I suppose if Verizon is taking the tax deduction on an original $1.1 billion purchase by Yahoo Yahoo wrote down almost the entire value of Tumblr before the Verizon acquisition[0] > What kind of business, let alone web business, sells for 1/10th annual revenue? A business that is losing a lot of money and shrinking. Automattic have to invest a lot more than $3M to keep Tumblr alive and turn it around (200 employees) - the total investment isn't just the acquisition cost With the headline figure it might seem like a nobrainer but Automattic could end up spending years investing in a turnaround that never happens [0] https://www.businessinsider.com.au/yahoo-tumblr-write-down-2016-7?r=US&IR=T https://www.businessinsider.com.au/yahoo-tumblr-write-down-2...