NEW YORK TIMES ONE OF FOUR COMPANIES INVESTING IN BLOG PLATFORM
January 26th 2008 00:07
Automattic, the commercial arm of the popular WordPress publishing platform for blogs, has received US$29.5 million in financing from four companies, including a small portion from The New York Times Company.
The New York Times reported that WordPress is open-source software used by bloggers to publish posts. Its chief competitors are Blogger (owned by Google) and TypePad (owned by the software company Six Apart).
Automattic received US$1.1 million in financing about two years ago. Polaris Venture Partners, True Ventures and Radar Partners were joined by the Times Company in the second round of financing.
The companies did not disclose the size of each firm’s investment, although the Times Company’s stake is the smallest.
The Times Company had previously maintained a business relationship with Automattic, and has produced more than 50 blogs using the platform.
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