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Tumblr Takes Fresh $85M Round

To scale its operations, trendy blogging platform Tumblr has secured a fresh $85 million in funding, led by Greylock Partners and Insight Venture Partners, along with participation from Chernin Group, Richard Branson, Spark Capital, Union Square Ventures and Sequoia Capital. The new money "allows us to continue to scale our business and give real focus to the further development of Tumblr," founder David Karp said in a statement.

"Karp said that Tumblr's growth has exploded in the past year," The New York Times' Bits blog notes. "It's attracted popular musicians such as Lady Gaga and traffic leapt to 13 billion page views per month from 2 billion page views per month." Since 2007, meanwile, Tumblr has facilitated the creation of some 30 million blogs, which now generate more than 40 million posts each day, Bits reports.

"Tumblr has come far since we began our journey," Karp added. "From the early users signing up to easily share all of the things they cared about, to the global community today where creators have an incredible opportunity to reach an audience of hundreds of millions, it's been a remarkable four years."



Read the whole story at The New York Times »

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