The online video streaming space seemingly gets more crowded by the hour. The next company in line to roll out a livestreaming feature is apparently Yahoo-owned Tumblr.

Twitter user David Chartier recently uncovered promotional material that points to a June 21 launch date for Tumblr's upcoming service. According to, the festivities will be kicked off by a series of short community video streams Tuesday afternoon.

As of writing, Tumblr hasn't officially announced the new service although TechCrunch has heard from sources that the service is indeed legitimate.

If true, the feature would better position Tumblr to compete with services like Facebook Live, Twitter's Periscope and Amazon's Twitch in the livestreaming video category. What remains unknown at this hour is exactly how the service will work and what underlying technology will be utilized. Specifically, one wonders whether the service will be native to Tumblr or if it'll simply lean on an existing platform like those mentioned above.

Tumblr was founded in 2007 and became an instant hit, gaining 75,000 users within the first two weeks. Following years of steady growth, Yahoo purchased the site in May 2013 for $1.1 billion in cash. As of January 2016, Tumblr had 555 million monthly visitors and as of June 1, hosted nearly 300 million blogs.