The Hustle

Automattic, the parent to WordPress, is a private company you should know about

Automattic, the parent company to WordPress, recently executed a $250m buyback, valuing the company at $7.5B.

A long list of tech companies entered the public market in 2021, but Automattic, the parent company behind WordPress, is private and thriving.

Earlier this week, CEO Matt Mullenweg announced the company’s latest move — a $250m share buyback valuing the firm at $7.5B.

The buyback offers current and former employees a chance to cash out some of their equity holdings and increases the value of the company’s shares.

Just because they haven’t joined the IPO blitz…

… doesn’t mean they haven’t been busy.

The firm has been growing on all axes in 2021:

These moves are helping Automattic build beyond WordPress

Automattic, founded in 2005, was ahead of the curve on trends like remote work, open-source, and freemium pricing strategies.

Counting WordPress, the company has a dozen products under its umbrella, including:

Along with the 3 they’ve made so far, the firm expects to add more acquisitions in the coming months.

Automattic offers a strong rebuttal to the argument that blogging is dead. But with an ever-expanding portfolio, they’ll be prepared if and when that day comes.

Get the 5-minute roundup you’ll actually read in your inbox​

Business and tech news in 5 minutes or less​

Exit mobile version