GING site Tumblr said yesterday it has raised $85m (£54.6m) to help fund expansion, in an investment drive that values the firm at $800m.
Prominent tech investors such as Sequoia Capital and Greylock Partners were among those named as investors in Tumblr, which provides a free, photo-focused blogging platform. Sir Richard Branson is also thought to be among those injecting fresh capital into the firm.
Founder David Karp said in a statement that the cash “allows us to continue to scale our business and give real focus to the further development of Tumblr”.
Tumblr, set up in 2007, reported 13bn page views per month recently, though the firm is yet to deliver a proven revenue model.