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Just kidding...
(lemmy.world)
I was actually there because i was considering creating an account and wanted to check it out.
Then they pop one of those and lost me for ever!
I think there are many others one could point to more accurately, including Yahoo who purchased and then resold tumblr.
While Tumblr has made a lot of changes, some of which were walked back, they are still a well used and beloved site today. There are many now-dead or barely alive behemoth Internet companies that are better examples of "poster child for running a terrible Internet business" imo.
After they got rid of all the porn they last a vast majority of their traffic. Now they're basically a Taylor Swift fan club catering to a very small but dedicated fan base barely enough to keep the lights on.
They are husk of their former self.