4 ms·

Tumblr wiped off half their value by doing that.

• monocasa 7y ago
  More than half, didn't they sell for $3M or something absurd?
  • larkeith 7y ago
    Yep. Purchased in 2013 for $1.1B, sold in 2019 for <$3M. More than 99.7% value lost. [1] https://en.wikipedia.org/wiki/Tumblr https://en.wikipedia.org/wiki/Tumblr
    • lonelappde 7y ago
      Most of that was an absurd overvaluation followed by smothering to death by titan of industry Marisa Mayer, who can always be relied on to lose a billion dollars if there's $10milliom in it for her.