Automattic Acquires Majority Stake In Pressable | @thetorquemag
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Automattic Acquires Majority Stake In Pressable

Automattic now owns a majority stake in Pressable, a managed WordPress hosting company. Though Automattic has been a primary shareholder in the company since April, Vid Luther, CEO of Pressable, handed over his shares.

Because Luther owned 37 percent of Pressable, this is officially an acquisition. When asked about his departure, Luther explained how hard he was working without seeing much result.

“This is the best thing that I could have done for my family, or myself,” Luther said in an interview with Post Status.

Automattic has acquired several WordPress companies since 2007, when it bought significant shares of Gravatar. Since then, Automattic has acquired 17 other companies, including Code Garage and WooCommerce. All of this has been since the company was founded in 2005.

In a statement given to Post Status, Matt Mullenweg, founder of Automattic, expressed his excitement:

“Automattic is happy to be an investor in a number of WordPress-related companies and web hosts, and will continue to invest in the future,” Mullenweg said. “Automattic continues to enjoy working with and supporting many great WordPress hosts, and we expect that Pressable will be able to operate fully independently in the future.”

As of March 7, Luther is no longer with the company and it is unclear what direction Automatic will take Pressable.

What do you think about the acquisition? Comment down below. 

Emily Schiola

Emily Schiola is a Staff Writer at Torque. She loves good beer, bad movies, and cats.

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