Someone familiar with the transaction tells me that Primack’s numbers are “not a bad guess.” And it’s possible the numbers will end up somewhere higher than his report. Another source tells me that the round will end up bringing in between $20 million and $30 million, at a pre-money valuation of $120 million. That would put Tumblr’s value at $140 million or more. In any case, it’s a lot of money.
And as wise Om Malik says, “Investors are never the story.” (Except when they are. And what’s really relevant here is that at these prices, the list of potential Tumblr acquirers gets much smaller: Google, sure. Facebook, perhaps. Yahoo, theoretically, etc.)
The real story for Tumblr remains the one we’ve asked every other time the company has raised money ($4.5 million in 2008; $5 million earlier this year): How’s it going to make money? —- Presumably, the company’s pitch to investors went something like this: “Look at our hockey stick! Hockey sticks like this only come around a few times a lifetime–perhaps you’ve heard of Twitter?” That is: Buy now, and we’ll figure out money later.
“What no one initially realizes is that not only is the train 150 miles long and carrying AIDS, but it is also a Decepticon. Here’s a movie tip: whenever they apply personification to an object, then that object itself stands for something else that isn’t a person. In this case the train, like zombies, is a metaphor for cold, uncaring, unstoppable, raging capitalism, and as soon as I say that the rest of the movie makes complete sense, i.e. makes no sense at all. The movie then gets retitled, Unwatchable.”—The Last Psychiatrist: Guess What Is Unstoppable: Movie Review
Has Sarah Palin never heard of publishers releasing pullquotes or advance copies of books to reviewers, reporters etc. or is she just acting like a stupid ass or is she just one?
A textbook example of “PDS or Palin Derangement Sydrome” I’m very sorry that the “blogging by typewriter” author of the title has such a debilitating mental disease. I can only hope that maturity or an increase in the author’s medication returns he/she/or it to sanity soon.