WordPress parent Automattic said to be raising a VC round that values it at $1 billion

Automattic, the San Francisco-based company that is responsible for the WordPress web-publishing and blog-hosting platform — and the associated open-source community — is raising a round of venture capital that could value the company at $1 billion or more, according to a report in Fortune magazine. The financing is said to be in the $100-million to $150-million range. WordPress recently acquired Longreads, a content-sharing community, and has said it wants to get more into content recommendation. Web-publishing competitor Squarespace just closed a financing round of its own that was worth $40 million.

Disclosure: Automattic is backed by True Ventures, a venture capital firm that is an investor in the parent company of Gigaom.

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