Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, exactly where we unpack the numbers behind the headlines.
This week was a bit unique. As an alternative of meeting up at the TechCrunch HQ to record the episode, Kate and Alex met up in muggy Boston at Drift’s workplace, exactly where we linked up with Axios’s Dan Primack. And considering that we have been feeling chatty, we went a bit lengthy.
Following checking in with Primack (he has a newsletter and a podcast), we initial dealt with the most current from Tumblr. In quick, Verizon Media is promoting Tumblr to Automattic for a couple of dollars. How did Verizon wind up owning Tumblr? Ah. Effectively, Yahoo purchased it. Later, just after Verizon purchased AOL, it purchased Yahoo. Then it smushed them with each other and named it Oath. Then Verizon decided that it didn’t like that a great deal and renamed the group Verizon Media. But Verizon doesn’t want to personal media (in addition to TechCrunch, of course), so it sold Tumblr to Automattic, a venture-backed organization ideal recognized for operating WordPress.
That’s a lot, I know. What matters is that Yahoo purchased Tumblr for additional than $1 billion. Verizon sold it for about $3 million. Now, Automattic now has a couple of hundred new personnel and a shot at juicing its userbase ahead of it goes public.
Following that, we lamented that the WeWork S-1 had but to seem. This was a tragedy, frankly. We had anticipated to commit half the show riffing on WeWork’s financials, alas…
We ran a bit lengthy mainly because we have been obtaining entertaining, fitting in some conversation surrounding the notes from the SEC relating to the now-dead and then-fraudulent Rothenberg Ventures. Additional on that right here if you want to get angry.
And lastly, Vision Fund 2. It’s been a huge supply of interest for everybody on the show, and we count on what ever the second-act Vision Fund winds up becoming to be a huge damn deal. The fund will invest in additional than just customer marketplaces, in reality, it’s eyeing additional AI firms and even biotech. That really should be exciting.
All that and we have a lot additional very good stuff coming. Thanks for listening to the show, and we’ll be suitable back.