Blackrock has marked down its stake in Automattic by 10%, reducing its valuation from $41.7 to $37.5 per share, indicating market pressures.
The reduction in valuation arrives amidst a high-profile legal dispute where Automattic's CEO, Matt Mullenweg, blocked WP Engine from accessing WordPress.org.
Mullenweg stated that Blackrock holds a mere 0.6% stake in Automattic, emphasizing their limited influence as they possess no voting rights.
WP Engine is currently seeking a preliminary injunction to regain access to WordPress.org, further complicating the landscape for Automattic and its stakeholders.
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