Automattic Asks The VC Community: Please Sir, I’d Like $100 Million More


Automattic, the company behind WordPress, is asking the Venture Capital community for a $100 million dollar injection.

According to a report first broken by CNN Money, the new round of VC will value the company at around $1 billion.

Automattic last took a round of $75 million in September 2013.

The company, which came about off a spin off of the code to b2/cafelog, is said to host (via its code) around a staggering 22% of sites on the Internet. The company makes money through its WordPress.com hosted blogging service.

The company is said to be profitable, which begs the question why it’s asking the VC community for more.

CEO Matt Mullenweg has been controversial previously, but has in more recent years been lauded by others in Silicon Valley.

$100 million aside, even if there’s a massive crash in technology stocks tomorrow, the chances are you’ll read about it on a WordPress powered site.

(Image credit: Columbia Movies/ Oliver/ 1968.)


Duncan Riley

0 Comments

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.