Time Warner set to increase investment in Mashable, but no news on acquisition
Time Warner is investing more funds into popular culture digital news site Mashable, according to The Information.
Towards the end of last year it was reported the news site was seeking a buyer for as much as $300 or $350 million, Capital New York's Ken Doctor reports.
Time Warner’s venture arm Time Warner Investments led Mashable's $17 million round of funding in January, which valued the company at $180 million.
The millennial site has been in acquisition discussions with Time Warner more than once, it has been reported. While the company’s venture arm already owns a stake in Mashable, it is unknown which part of Time Warner is making the latest investment.
Mashable was created in 2005 by Pete Cashmore, who launched the site out of his home in Aberdeen, Scotland aged 19. At the time he had no outside capital; now Mashable has raised $31 million from investors including Time Warner Investments and Tribune Digital Investments.