One of the Internets most well-known tech sites is coming under new ownership. According to a recent report from The Wall Street Journal, publisher Ziff Davis has agreed to buy New York-based company Mashable for around $50 million.
That may sound like a lot of money but its apparently far less than the sites founder, Peter Cashmore, and investors were hoping for. As Variety highlights, thats just 20 percent of the sites $250 million valuation after a $15 million round of funding led by Turner.
Mashable has been looking for a buyer for months. In September, it was reported that the company had held extensive talks with ProSiebenSat.1 regarding an acquisition.