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.
This article originally appeared on TechCrunch.