The hyperx, formerly known as WordPress, has been sold to a new investor led by former Twitter CEO Dick Costolo.
The deal has been described as a “significant acquisition” by the Wall Street Journal.
The transaction was first reported by CNBC.
WordPress was purchased by Hyperx for $15 billion in 2014.
It’s a pretty significant acquisition for the internet’s largest content platform, as it now sits at roughly 25% of all webpages on the internet, according to the Journal.
WordPress’ revenue dropped from $6 billion to $4.8 billion during the time it was sold to the new investor, according the Journal, citing a representative of Hyperx.
Hyperx, a web design and development company, was founded in 2003 by Mike Korkmaz, who previously ran the social news platform Medium.
“We are delighted to be joining forces with Hyperx and we look forward to bringing wordpress to more people in a more personalized way,” said Korkl, in a statement to TechCrunch.
The company’s blog post says the new investors will be acquiring “the majority of Hyper x’s existing workforce.”
WordPress’ main rival, WordPress.com, went live on July 3, 2017, and has grown into a juggernaut of sorts.
Its growth has outpaced its competitors, especially WordPress, which is now at 2.5 million active users.
The company has been criticized for its lackluster content and features.
Its stock was up $8.19 on Friday morning, while its price was down $4, or $0.08 per share.