Blogging platform Tumblr has secured $85 million in venture capital financing, The Wall Street Journal reports. The investment round was led by Greylock Partners and Insight Venture Partners.
Existing investor partners Spark Capital, Union Square Ventures and Sequoia Capital also participated. The company will use the proceeds to ramp up the service, founded in New York City by David Karp in 2007, adds New Zealand Herald. The latest investment values the company at $800 million.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from New Zealand Herald.