Tumblr Closes Series B Financing Round

Dec 12, 2008

Tumblr, a publishing platform and social network offering, announced that it has closed a Series B round of financing. Union Square Ventures and Spark Capital led the $4.5 million round. Tumblr’s Q1 2009 plans include the launch of a premium service. It will be followed by a revenue strategy that leverages both Tumblr’s publishing platform and community. In conjunction with the financing, the company has added John Maloney as president. Union Square and Spark also led Tumblr’s Series A round of $775,000 financing that was joined by Betaworks and individual investors including Vimeo Founde r Jakob Lodwick; Albert Wenger, Former President of Delicious; and Martin Varsavsky, BioTech entrepreneur.
(www.unionsquareventures.com, www.sparkcapital.com, www.tumblr.com)