WordPress Drama - Automattic/WordPress financials not looking good
This can explain why Automattic is going after WP Engine and why Jetpack prices are going up. Automattic, despite Matt’s denial saying that they are breaking even is losing money. It’s evident with BlackRock’s markdown of Automattic.
Earlier this year, Blackrock, one of the investors in Automattic, marked down their investment to almost half the value from the time they bought the shares in 2021. While Mullenweg didn’t directly address that markdown, he said the company generates around half a billion dollars in annual revenue, running at “break even or better,” and hiring aggressively.
“We haven’t raised any primary capital and have no plans to,” Mullenweg said.
As they say, everything VC touches turn to crap. If you are using WordPress.com, you should absolutely move to your own hosting, or get managed hosting from somewhere like SiteGround/WP Engine/Flywheel, etc
WordPress Drama - Automattic/WordPress financials not looking good
@chikorita157 I’m recalling it, he’s going to be on right wing media soon whining about how the woke are out to get him…
WordPress Drama - Automattic/WordPress financials not looking good
@yon Would probably fit right at home, given this.
WordPress Drama - Automattic/WordPress financials not looking good
@chikorita157 It’s too damn easy to pick these people out:/ Miss when it was more common that they were just socially inept and greedy.