Automattic Lands Massive $29.5M for WordPress, Other Products
Written by on January 22nd, 2008 in Ajax News.
GigaOm has broken the news that Automattic, provider of the WordPress open-source blogging software and spam filter Akismet, has raised $29.5M in a Series B round of financing led by True Ventures. Other participants in the round include The New York Times, Polaris Ventures, and Radar Ventures.
The large injection of capital will not only go towards the development of Akismet and WordPress (the downloadable software) but the development of Wordpress.com (its hosted blogging platform), Gravatar (its avatar offering), and BBPress (an upcoming hosted bulletin board product) as well.
Wordpress.com recently boosted its storage cap to 3GB, far surpassing its competitors Blogger and TypePad. WordPress was honored twice at this past week’s Crunchies in the categories of “Most Likely to Succeed” and “Best CEO”.
Last October, Automattic was rumored to have turned down a $200M acquisition offer.
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Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/221408745/