Microblogging platform Tumblr is pursuing venture capital firms for another generous amount of money at a very substantial valuation.
According to Business Insider, Tumblr is speculating to raise about $75 million to $100 million at a valuation in the range of $800 million or even higher.
The business website reports that Tumblr is talking to DST, Kleiner Perkins, Andreessen Horowitz, and Sequoia. They are described as “the guys who can write big checks.”
The microblogging platform has continued to expand more and more. Tumblr has spent most of its fundraising time discussing with firms that can help the company with capacity planning and equipment financing. The platform is about to bring a massive server online with plans to start up several more soon.
Tumblr president John Maloney told Business Insider, “We never talk about the nature of our discussions with financiers. Yes, the network continues to scale like crazy and we’re always having conversations with firms and smart people who can help with the growth.”
Tumblr was founded and run by CEO David Karp. The platform claims itself as “the easiest way to blog.” The majority of the people who use it would probably agree.
Quantcast reports that Tumblr blog network has 38 million monthly unique visitors in the U.S. and more than 90 million worldwide. Last year, the global number was 10 million, so obviously the microblogging company is expanding and needs help (money) to plan for expansion and build equipment.