WordPress secures $29 million in funding
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Automattic, the parent company of popular open source blogging platform WordPress, announced this week it received $29 million in funding from four investors who will take a minority stake in the company. Though this isn't the first round of financing for the not quite three-year-old company, it has drawn a lot of notice because one of the investors is the New York Times. It's an unusual pairing of two industries -- blogging and conventional media -- typically thought to be at odds with each other.
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