WordPress Creators Valuing Company At $1 Billion
The company that runs the WordPress sites, Automattic, are looking for new funding which would leave their company valued at a massive $1 billion.
A report in Fortune has stated that Automattic is looking to secure a total in funding between $100 and $150 million dollars although it is still unclear from any reports where the additional funding will be coming from and as yet there has been no comment about the matter from the WordPress bosses who have neither confirmed nor denied the reports about the funding bid.
It was only six months ago that Tiger Global Management and Iconiq Capital managed to buy out the stock that was being held in Automattic by Polaris Capital for a massive $75 million dollars back last autumn but the combined funding would leave the company being valued at the $1 billion mark.
The power of Automattic as an online powerhouse comes primarily from the company running the hugely successful WordPress site.
WordPress blogs alone are viewed each month by over 400 million people and the users of the free blogging service publish and create almost 50 million posts through the site every month making it a force to be reckoned with online.
WordPress is not just a site for the individual blogger at home wanting to put down their thoughts and share them with their friends, instead WordPress is used by organisations and companies of all sizes to run their sites thanks to the easy to use themes that can be customised to fit the users needs and requirements and also the huge amount of plugins that are available to modify sites even further.
Some of the most well known companies that use WordPress to run their sites include CNN and GigaOm.
News of the possibility of new funding coming Automattics way is also a great sign for fans of the company as it shows that they have no intention of sitting on their laurels and are looking to further expand their services for users – although whether this will be for free services or paid is as yet unknown.
While it may be great news for WordPress and fans of blogs and online news services everywhere it could signal another nail in the coffin for the printed press as investors switch their loyalties and pump their dollars into online initiatives at the expense of traditional newspapers and magazines.
The future at WordPress and Automattic is unsure but we can be sure that it looks to be a very positive one and certainly a lucrative one for those behind the $1 billion dollar company!