Wordpress was next, kind of...
|Von roger @ 03:11||[ Blogging ]|
Automattic (owner of Wordpress) has raised $29.5 million Series B funding
Matt stopped by to see Om to talk about things and in doing so, intentionally or unintentionally shared that the company raised a round of funding led by TrueVentures. The round included a strategic investment from The New York Times Co, which is indicative of NYT’s commitment to exploring and building its Social Media foundation.
Update: As part of this funding, some insiders including senior management whose options had vested were given an opportunity to cash out. The Wall Street Journal reports:
“Still, Automattic’s investors are taking pains to keep the company’s founders motivated: Some of the $29 million will be used to help company founders and others cash out some of their holdings in the private company, Mr. Black said. The practice has become more common in Silicon Valley as start-up founders spend longer building their companies without any payday.”