May 3, 2019

Verizon looks for Tumblr's next buyer

A user tries to install Tumblr on his phone. Photo: Nasir Kachroo/NurPhoto via Getty Images

Verizon is seeking to unload Tumblr, the social network acquired by Yahoo for $1.1 billion back in 2013, per WSJ.

Why it matters: Tumblr, while unprofitable, remains home to over 450 million blogs and once was at the vanguard of social media.

What to watch: No word yet on a possible sale price. Yahoo wrote the value of Tumblr down by $230 million before being acquired by Verizon, which subsequently hired a new CEO (Hans Vestberg) who has emphasized networking over media.

  • Tumblr founder and former CEO David Karp didn't return an emailed request for comment about Verizon's plans, or if he'd consider trying to repurchase the company. He left shortly after Verizon completes its Yahoo purchase.

The bottom line: Tumblr in its later years became known largely for personal pornography, until Verizon banned such content late last year. That may have been an effort to get the platform ready for auction but, as BuzzFeed reports, the only bidder to publicly express interest so far has been Pornhub.

Go deeper: Tumblr finally releases information about state-sponsored propaganda

Go deeper

Joe Biden makes first public appearance in over two months

Photo: Oliver Douliery/AFP via Getty Images

Former Vice President Joe Biden made his first in-person appearance in over two months on Monday to honor Memorial Day by laying a wreath at a Delaware veterans park, AP reports.

Why it matters: Biden, the Democratic Party's presumptive nominee, has taken the unprecedented step of campaigning from his home during the coronavirus pandemic, ever since canceling a rally in Cleveland on March 10.

WHO temporarily suspends trial of hydroxychloroquine over safety concerns

Photo: Fabrice Coffrini/AFP via Getty Images

The World Health Organization is temporarily pausing tests of the anti-malarial drug hydroxychloroquine as a coronavirus treatment in order to review safety concerns, the agency's director-general Tedros Adhanom Ghebreyesu said Monday.

Why it matters: The decision comes after a retrospective review published in The Lancet found that coronavirus patients who took hydroxychloroquine or its related drug chloroquine were more likely to die or develop an irregular heart rhythm that can lead to sudden cardiac death, compared to those who did nothing.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 5,449,135 — Total deaths: 345,721 — Total recoveries — 2,188,200Map.
  2. U.S.: Total confirmed cases as of 10 a.m. ET: 1,647,741 — Total deaths: 97,811 — Total recoveries: 366,736 — Total tested: 14,163,915Map.
  3. 2020: Trump threatens to move Republican convention from North Carolina.
  4. World: White House announces travel restrictions on Brazil Over 100 cases in Germany tied to single day of church services — Top Boris Johnson aide defends himself after allegations he broke U.K. lockdown
  5. Public health: Officials are urging Americans to wear masks over Memorial Day.
  6. Economy: White House economic adviser Kevin Hassett says it's possible the unemployment rate could still be in double digits by November's election.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 2 hours ago - Politics & Policy