Tumblr raises US$30m in venture capital

18 Dec 2010

Rapidly growing social blogging site Tumblr has raised US$30m in venture capital funding from Spark Capital, Sequoia and Union Square Ventures.

Tumblr is a microblogging platform that is generating a dedicated following by making it easy to post text, images, quotes and videos to its short-form blog.

Founded in 2007, it has in excess of 3 million users and the site is averaging 2 million posts a day and growing at the rate of 15,000 new users daily.

Tumblr valuation

According to reports the funding round values Tumblr at US$155m.

In a blog post entitled ‘Getting ready for 2011’, Tumblr said that it has been beefing up its engineering team and has plans to expand into a second data centre.

“We already light up more than a rack of new servers every week,” the company said.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years