Media

Mashable lines up $50m sale to Ziff Davis as funding dries up

By John Glenday | Reporter

November 17, 2017 | 3 min read

Digital media website Mashable is expected to confirm a sale to publishing powerhouse Ziff Davis, with a sale price of around $50m – according to reports in the Wall Street Journal.

If the change in ownership materializes it would mark a significant discount on the $250m Mashable received as recently as March last year, driven south by reports that the platform will register a loss in 2017.

Founded by Pete Cashmore in 2005 the platform initially enjoyed great success with its proven formula of a daily diet of technology-related stories charting the fast-evolving sector.

Mashable lines up $50m sale to Ziff Davis as funding dries up

Fast forward today however and the site has lost much of its founding optimism and difficulties in securing additional funding – despite a shift to video on which the publisher had pinned high hopes.

This lack of finance is believed to have forced Mashable’s hand to pursue an all-out sale to a publisher with the resources to invest in the website to help turn it around, with initial reports suggesting that ProSiebenSat was poised to swoop.

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Cashmore spoke to The Drum in March about his 10 years running the business and growing it into a digital player with an ambition to grow its entertainment credentials.

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