SmugMug acquires Verizon-owned Flickr

Fri, 20 Apr 2018 21:47:41 GMT


Verizon Communications Inc. has sold its Flickr unit to privately held SmugMug Inc. for an undisclosed sum, USA Today reported late Friday. Verizon stock was up a fraction in the extended session Friday after closing down 1.1% to $47.90 during regular trading. Verizon bought Yahoo Inc. for $4.5 billion last year and the acquisition included the Yahoo-owned Flickr, among other web properties. Verizon since joined Yahoo and other assets into its Oath subsidiary. Flickr was founded in 2004. It currently has 75 million registered members and has played a central role in the cultural and social life of the internet, USA Today reported. SmugMug is a family-run organization. Verizon stock is down 10% this year, as the S&P 500 index has gained less than 1%.

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