Tiger Global invests $50 million in Automattic's WordPress.com
Reuters - Fri, May 24, 2013By Sarah McBride SAN FRANCISCO (Reuters) - Automattic, the company that operates blogging service WordPress.com, announced a $50 million (33 million pounds) investment from hedge fund Tiger Global on Friday. The investment comes on the heels of Yahoo's $1.1 billion acquisition of blogging company Tumblr, showing the high prices fast-growing services that targeting Internet users can command. The valuation for Automattic was similar, Fortune reported. A spokeswoman for WordPress declined to comment. WordPress powers the blogs at companies such as CNN.com and Techcrunch, a spokeswoman said. ... More »Tiger Global invests $50 million in Automattic's WordPress.com
