Tumblr Funding anywhere Between $25 Million and $30 MillionBy Shaon, Gaea News Network
Wednesday, December 22, 2010
Tumblr the popular service had raised quite an amount of money from the Silicon Capital VC firm Sequoia Capital. Recent studies however shows that the amount raised is any figure between an astounding $25 million and $30 million. and a valuation of $137 million.
Fortune speculates that the lead investor in the round is Sequoia Capital, also Spark Capital and Union Square were a major part of this round investment. It is being perceived that Sequoia’s Roelef Botha will be joining the Tumblr board. Founder David Karp denied any funding. As it was noted Tumblr also hired Derek Gottfrid from New York as a Director.
The recent hiring spree and innovations like ability to like post is definitely a sign that the community is on a upswing.