9/20/2019, 4:56 PM (Source: TeleTrader)
more TeleTrader news

WordPress parent Automattic gets $300M of financing

Automattic Inc., the parent company of WordPress, Woocommerce and soon Tumblr, closed the series D at a $3 billion post-money valuation on Friday. The only investor in the funding round was Salesforce ventures with $300 million in financing.

Automattic's WordPress is used by more than 60 million websites which include 34% of the top ten million websites as of April 2019. Currently, the company employs close to 1,200 people.

"I think there's potential to get to a similar market share as Android, which I believe now has 85% of all handsets. When you think about it, open source has a virtuous cycle of adoption, people building on the platform and more adoption," Automattic’s CEO Matt Mullenweg said.

Breaking the News / TF