Tumblr Confirms Rumors of $30 Million in Funding

Dec 21, 2010


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Following several weeks of speculation, it was confirmed on Monday that microblogging service Tumblr received $30 million of additional funding from Sequoia Capital, Union Square Ventures, and Spark Capital. Although information about the funding deal had been scarce, an SEC filing detailing the financing surfaced over the weekend, where it was uncovered by several news sites and blogs, including TechCrunch.

Speaking with TechCrunch, company president John Maloney also indicated that Sequoia had contributed $20 million, with Spark and Union Square Ventures each contributing an additional $5 million.

A post on Tumblr's staff blog also spelled out the company's plans for the new funding, which include the expansion of its engineering team and the opening of a new data center.

(www.tumblr.com)