Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.
Automattic, the parent company of WordPress and Woocommerce, just got $300 Million in financing from Venture Capital firm Salesforce ventures more than doubling previous financing rounds.
Automattic, the parent company of the World’s most popular content management system WordPress recently raised $300 Million in financing from a single investor known for its deep interest in innovative internet technologies. Its valuation is already estimated at $3 Billion. Not bad for a company that isn’t known for raising money in venture capital regularly.
Known Venture Capital firm Salesforce Ventures committed the series D funding of the parent company of the web’s most popular cross-platform website builder. WordPress is known to power about 34% of websites currently in existence and is completely open-source.
Based on a freemium model, where all the basic components are offered for free with premium options for a token, Automattic’s WordPress has become the darling of the world wide web and does pretty much everything that is needed for typical websites to function.
Automattic Is All About Content
Automattic’s core mission is to help content developers syndicate their content on different platforms and formats. This goes without saying that everything the company has done so far is to create a rich web filled with unique content that is designed for engagement.
WordPress comes with everything out of the box and this works for just about any kind of website being built or developed. From Automattic’s acquisition of Woocommerce for $30 Million which is the premier shopping cart plugin to the Jetpack security plugin, it is obvious that the company intends to build the infrastructure that the whole web functions on.
Automattic also has some other platforms in its portfolio which are content-driven but in different formats. From Longreads which is a long-form content development platform to Simplenote which is a note-taking platform to Glottpress which is an easy to use translation tool and survey tool Crowdsignal, Automattic has always pushed the bar beyond the normal and is set to make sure that content will remain the king of the hill.
Automattic’s CEO Dreams Big
In a recent interview, CEO and Co-founder of the internet company, Matt Mullenweg had quite a few things to say:
“I think there’s potential to get to a similar market share as Android, which I believe now has 85% of all handsets. When you think about it, open source has a virtuous cycle of adoption, people building on the platform and more adoption.”
This is already indicative of the organization’s commitment to getting and keeping the market share. Already, it seems that the freemium, open-source model which Automattic has adopted will shape the course of things for many globally.
Not resting on its oars, the internet company earlier this year embarked on a project to develop a Blockchain-powered News sharing platform which generates its revenue called Newspack. Partners such as Google and Consensys are also involved with the development.