Mashable, the US-based online media company backed by media groups Time Warner and Tribune, is considering selling part or all of the company, Bloomberg reported on Tuesday, citing people with knowledge of the matter.
Founded in 2005, Mashable operates an online media property that focuses on digital culture, technology and online entertainment coverage. Like many digital media companies, it began as a primarily text-based entity before expanding significantly into video content.
Mashable, which was valued at $250m in April this year according to The Information, told Bloomberg it hired boutique investment bank LionTree Advisors a few months ago to manage a raise of new funds but is not in talks about a sale.
The company’s videos are accumulating 1.6 billion views each month, Mashable said, and any funding will likely support the push further into video. It has raised $46m in funding altogether.
Tribune Digital Ventures, the strategic investment arm of Tribune Media, led a $14m series A round for Mashable in 2014, investing alongside growth equity firm Updata Partners, venture capital firm New Market Ventures Partners and VC partnership Social Starts.
The series A investors returned for Mashable’s $17m series B round the following year, which was led by Time Warner Investments, the corporate venturing vehicle for Time Warner.
Time Warner Investments also took part in a $15m round in April 2016 that was led by another Time Warner subsidiary, Turner, investing together with Updata Partners, VC fund R&R Venture Partners and angel investors David Jones and Mike Lazerow.