The Pricing that Danielle has quoted - $10-15 RPM is extremely high. First - Tumblr is not a "Premium" Property. NBCNews.com and Business week is. Second - Po

The Pricing that Danielle has quoted - $10-15 RPM is extremely high. First - Tumblr is not a "Premium" Property. NBCNews.com and Business week is. Second - Porn which is plentiful on Tumblr is the opposite of premium. It tends to be cheap and not easily monetizable. Third - A better metric to use would be CPM. Un-targeted ads deliver <$1 CPM Typically. These are the Run off Network kind of campaigns. Targeted ads such as search / display targeting, retargeting typically deliver between $2.5 - $5.00 which represents the best case. Fourth - The ad platforms tend to take a revenue cut + platform fee which easily amounts to 30-40% of that. Fifth - I am assuming that Tumblrs ads are direct buys in which case it is highly unlikely that they can quote CPMs given in my earlier statements. This is because they probably don't have enough technology to deliver those kind of media buys yet. Net net..your numbers are off. The $3b title is a nice bait but the valuation numbers are off.