Tiger Global invests $50 million in Automattic's WordPress

By Sarah McBride SAN FRANCISCO (Reuters) - Automattic, the company that operates blogging service WordPress, announced a $50 million 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 WordPress 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. ...



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