Automattic turns down $200 million offer
Automattic, the company that created the WordPress.com blogging platform and oversees the WordPress.org open source project, has rejected a $200 million acquisition offer, says multiple sources. — Techcrunch
I’d said a while ago that even the $300 million figure quoted by Rafat earlier was not the right valuation for the company. Automattic does not only create software that helps people — and now a fair number of publications — publish content, they also organise it in a consistent manner using global tags and categories. They are, in fact, a content management, content delivery and allied services company, very much unlike what the world thinks of them as: a blog software company.
If they stick it out in the long run by themselves (no reason why they should not do it, since they have not taken on board any major funding in a while now, which is a good indication that the company is doing well in terms of cash flow/reserves), they would be worth a whole lot more.
Update: More evidence to back it up that WordPress is much more than a blog software company. How long it will be before they get an actual editor to run that page and push out more organised content?