Report: Tumblr rolls into new financing round

Blogging service raises $4.5 million in a second round of funding from its existing investors, according to AllThingsD.

Blogging service Tumblr has raised $4.5 million in a second round of funding from its current investors, according to a report on AllThingsD.

Union Square Ventures and Spark Capital ponied up another round, bringing the company's total VC funding to $5.25 million and giving the company an estimated valuation of $15 million, according to the report. Tumblr provides a means for people to create, edit, and post blogs.

Tumblr is a free site that reportedly is leaning toward developing premium services to sell to its members, rather than latching onto an advertising-based revenue model.

Founder David Karp is aiming to generate revenue early next year, according to the report.

That should bode well for the company, which earlier this year launched a new feature that provides bloggers with the means to let others add content to their blogs.

Featured Video
6
This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

NYC taxis to compete with Uber

NYC taxis set to launch an app of their own, one billion people visit Facebook in a day, Chrome sets end date for Flash support and HTC's Vive VR headset gets delayed.

by Jeff Bakalar