Tumblr’s blogging platform emphasizes its ease of use and now hosts more than 27 million blogs. Fashion and photography blogs are especially popular on the site because it pushes strong visuals. A reported 20 percent of Tumblr blogs are related to fashion.
Silicon Valley venture firm Greylock Partners, which has also participated in rounds with Facebook, Groupon and Airbnb, was named as a new investor.
Both Greylock and Tumblr did not immediately return requests for comment on this story.
New York-based Tumblr has been growing steadily since the beginning of the year, even though it has had trouble finding ways to generate revenues. In December the company has 16 employees; it now has around 50. comScore says Tumblr had 13.4 million unique U.S. visitors in July, which is up considerably from 6.7 million in December.
Tumblr last raised $30 million back in December 2010, with funding coming from Sequoia Capital, Union Square Ventures and Spark Capital. The company has raised about $40.2 million total, not including the new funding that’s about to close.
Are you a fan of Tumblr? What do you think the company can do to monetize?
Note: Business Insider reported earlier in the week that Tumblr was in the process of raising a new round of funding.