Blackrock marks down its investment in Automattic by 10%

Blackrock has cut the worth of its stake in web hosting provider Automattic by 10%, the asset manager said in its latest quarterly disclosure report. Blackrock, which invested in Automattic during its Series E round in 2021, valued its investment in the WordPress hosting company at $37.5 per share, down from $41.7 per share earlier this year. The valuation reduction comes in the wake of Automattic launching a much-publicized fight with rival WordPress hosting provider WP Engine. The two companies have been ...