Why Automattic spent $50M on Texts.com
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Hello, and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.
This is our Wednesday show, where we sit down with a key topic and dive deep into it.
You may recall that Automattic bought all-in-one messaging app Texts.com for $50 million back in October. Well, we had questions, not just about the deal, but also the state of the written word online. So, we brought on Matt Mullenweg, the CEO of Automattic and co-founder of WordPress, along with Kishan Bagaria, the founder of Texts.com, to talk about the transaction and what it means.
A few notes before you hit play: First, Automattic is more acquisitive than you’d expect. A look at its history of purchases is critical context for our conversation. Second, TechCrunch is a WordPress VIP customer. None of that is strictly news, but we thought we should note it.
Alright, sit back, hit play and have some fun with us! We’re back on Friday with our news roundup!
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