Automattic Raises $29M Series B Round
By Jon Callaghan, January 23, 2008
We are thrilled to announce Automattic’s Series B round of financing with co-investors Polaris Ventures and Radar Partners, as well as new strategic investor The New York Times Company. True seed funded the initial round of $1M with Polaris and Radar, and the Series B round will enable additional product development to build a more exciting platform for the WordPress global community.
With 2.2 million blogs hosted on WordPress and over 100 million global uniques, Toni notes that Automattic is now larger than Facebook and Wikipedia. We here at True believe Automattic to be one of the most exciting privately held companies on the internet, but, of course, we are a bit biased :).
Om broke the news, but today’s WSJ and New York Times also discuss the transaction.
My favorite quote of all is from Matt’s Mullenweg’s blog, “That decision actually wasn’t hard. I couldn’t stop thinking about the opportunities, and it became clear that the road ahead was much longer than the road behind us.”
By far the most rewarding aspect of our business is watching a team of great entrepreneurs create. Toni, Matt, and the team are a tremendous inspiration for all of us at True.
Congratulations to Matt, Toni & the WordPress Team, and thank you for all of your hard work and dedication.