Matt Mullenweg "WordPress.com creator" raises $29.5M

Om Malik report that Matt Mullenweg, founder of Automattic and creator of open-source blogging system WordPress, has revealed that Automattic had raised a whopping $29.5 million in a Series B Round of funding, including a strategic investment from The New York Times Co. Previous investors True Ventures, Polaris Ventures, and Radar Ventures also invested in […]

Om Malik report that Matt Mullenweg, founder of Automattic and creator of open-source blogging system WordPress, has revealed that Automattic had raised a whopping $29.5 million in a Series B Round of funding, including a strategic investment from The New York Times Co. Previous investors True Ventures, Polaris Ventures, and Radar Ventures also invested in this round.

The Wall Street Journal reports:

“Still, Automattic’s investors are taking pains to keep the company’s founders motivated: Some of the $29 million will be used to help company founders and others cash out some of their holdings in the private company, Mr. Black said. The practice has become more common in Silicon Valley as start-up founders spend longer building their companies without any payday.”

Matt’s another blogging platform, the free hosted blogging service WordPress.com, has started to grow by leaps and bounds. In addition to the 2.2 million blogs that it hosts (which generates, according to the latest trailing 30-day numbers from Quantcast, 42 million unique U.S. page views, 114 million global uniques and 482 million page views overall), WordPress.com is becoming an attractive option for media groups that don’t want to muck around with infrastructure.

WordPress.com, just two days back increased free space to whooping! 3GB.

Matt explains that they are going to roll out newer, hosted services such as BBPress (forums), and will expand their other product offerings, such as Gravatar and the spam-protection service Akismet. The money will be spent to hire more engineers and build out a more robust infrastructure.

Source:→ GigaOm

Matt Mullenweg, WordPress, WordPress.com, WordPress Mu, WordPress Multi-user, Akismet, Corporate News, Finance, Stock, Finace News