Tumblr Is in the Red and Losing $30 Million Every Year: CEO – Gizmodo

Image: rafapress (Shutterstock)Once the go-to spot for teens wearing Doc Martens and suffering from a taste in alternative music, Tumblr is apparently seriously in the red: The platform’s CEO claims that the company is losing $30 million annually.How To Remove Followers From TwitterTechCrunch reported that CEO Matt Mullenweg spilled the beans during the Q&A, which was cohosted by COO Zandy Ring and attended by a meager 800 users, despite being plastered across every Tumblr account’s dashboard. According to Mullenweg, the platform is spending $30 million more than it’s making as it tries to desperately cling to relevance in its fight against Instagram and TikTok. Moreover, COO Ring explained that the platform is not seeing much of an increase in its userbase.“People have this impression that we have massive growth right now, and we really don’t,” Ring said during the Q&A. Earlier this week, Tumblr Staff, an account run by employees, posted a lengthy message describing the ways the social network, once worth $1 billion, hopes to fix core issues in order to appeal to new users. Tumblr Staff says point-blank in the message that “the underlying problem is that Tumblr is not easy to use” (emphasis theirs) due to the
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