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Tumblr might not have figured out how it’s going to make money, but that isn’t stopping a number of investors from throwing capital at the blogging site.
The Wall Street Journal reports that the company is close to raising $75 million to $100 million in venture capital—an investment that will value Tumblr at $800 million.
The site’s current lack of revenue deterred some Silicon Valley VC firms from signing on, but sources said that at least one big firm is participating: Greylock Partners, which has previous investments in Facebook and Groupon.