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Blackrock has reduced the value of its stake in web hosting company Automattic by 10%, the asset manager said in its latest quarterly 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 devaluation comes on the heels of Automattic launching a highly publicized battle with rival WordPress hosting provider WP Engine.
The two companies have been locked in a legal battle since Automattic CEO Matt Mullenweg blocked WP Engine from accessing WordPress.org, which hosts WordPress themes and plugins. WP Engine is currently trying to obtain a preliminary injunction in its favor and regain access to WordPress.org.
In September, Mullenweg wrote in a post on X that Blackrock owns just 0.6% of Automattic and has no voting rights in the company.
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