Remember when Marissa Mayer bought Tumblr for $1.1 billion and everyone was like "Whaaaaaaaa?!" And then remember how we then found out that her wildly overvalued acquisition of Tumblr was basically like a perfect encapsulation of her entire leadership philosophy for Yahoo? And then how that philosophy was the management equivalent of trying to cure someone of pneumonia by giving them Ebola? And then how she sold the dead body to Verizon for actual money?
Well, it turns out that we have at least one more fun twist in Marissa Mayer's jaw-dropping legacy at Yahoo, and it's also a super-fn callback.
Verizon is set to sell the social network Tumblr to Automattic Inc, the owner of online publishing tool Wordpress. A source familiar with the deal puts the price-tag "well below" $20 million.
Hmm, paid $1.1 billion, sold for "Well below" $20 million...that's [types away on calculator] a lot less.
And there's also this:
Verizon's desire to sell Tumblr had been previously known, but as of May, Pornhub had been the only bidder to show public interest.
Taking a 98% writedown on the original acquisition price of an app that was basically Instagram but not as good just so it doesn't revert back to being a widely-beloved platform for niche porn? Marissa Mayer really was the Keyser Soze of American business.