Venture Capital Firm Sequoia Offers a Hand to Tumblr
In this still-developing story, Tumblr—mini-blogging platform and all around interesting place to read—has received an extremely competitive sum from Sequoia Capital, according to SFGate.
The NYC-based blogging startup’s founder David Karp and president John Maloney went out to the Valley looking for money last month, and it sounds like they came back winners.
“I will say, it is nice to be well-received on the West Coast,” Maloney told us at the time.
Tumblr, a simple blogging platform, is now in an interesting spot.
The capital will help the blogging platform stake its claim in a rapidly growing market of similar offerings. Their primary rivals such as Posterous and Instagram could overtake them even though Tumblr is extremely well situated with smoothly charted audience growth.
They’ve already managed to obtain almost $5m from a round of venture capital in April from Spark and Union Square Ventures. The addition of Sequoia should help put them on the map.
No news yet on exactly how much they raised.
In related news, WordPress has been on a tear lately as well, while Posterous has been adding a steady stream of updates, especially for supporting services.
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