Mashable reportedly selling to Ziff Davis for about $50 million

Darrell Etherington
TechCrunch
Publishing conglomerate Ziff Davis has officially bought online news site Mashable for a mere $50 million, according to Recode.

Mashable laying off 50 people as it refocuses toward tech news after fire sale to Ziff Davis

Publishing conglomerate Ziff Davis has officially bought online news site Mashable for a mere $50 million, according to Recode.

Tech site Mashable is being sold to publishing giant Ziff Davis, according to a new report from The Wall Street Journal. The website, which focuses on tech and tech-related stories and has been publishing since 2005, will sell to Ziff Davis for around $50 million according to the report, which is far less than its valuation of $250 million, from a funding round it raised in March last year.

The all-out sale of Mashable comes after the publisher tried to secure additional funding throughout this year, according to the WSJ's sources. After failing to receive adequate interest in a raise, it sought instead an all-out sale starting just a few months ago.

The report also claims that while a push towards video at the site initially resulted in a rosier revenue picture, it's now on track to post a loss for 2017, despite its millions of monthly visitors.

We've reached out to Mashable for comment and will update if they provide a response.

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