Apparently it didn’t catch on in a flash:
Mashable, once a fast-growing digital publisher with big ambitions, has been sold at a fire sale price.
Ziff Davis, a digital media subsidiary of tech company J2, is buying Mashable for less than $50 million, according to people familiar with the transaction. In the spring of 2016, Time Warner’s Turner led a $15 million investment round that valued the company at $250 million.
Last month, the Wall Street Journal reported that a deal was in the works.
Weird to see that description of Ziff Davis, which has been around for 90 years. During the 1970s they owned stuff like Car and Driver and Stereo Review, and they could afford not to do things like this:
Mashable’s new owners plan on keeping the site running but want to refocus the company on tech and tech-lifestyle content. That will mean laying off about 50 of the site’s employees and offering other Mashable employees jobs at other Ziff Davis publications, according to a source familiar with the company’s plans, who says founder Pete Cashmore will stay with the company.
Until he gets bored, I suspect.