BlackRock marks down its investment in Automattic by 10%

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BlackRock has cut the worth of its stake in Automattic by 10%, valuing its investment at $37.5 per share, down from $41.7 per share.

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The valuation reduction comes amid a high-profile legal battle between Automattic and rival WordPress hosting provider WP Engine over access to WordPress.org.

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Automattic CEO Matt Mullenweg has stated that BlackRock owns only 0.6% of the company and has no voting rights.

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The reduced valuation of BlackRock's Automattic investment reflects the broader market conditions and the ongoing legal challenges facing the web hosting company.

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