Mashable Being Sold to CNN for $200m? - UltraLinx

Mashable Being Sold to CNN for $200m?

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Mashable Being Sold to CNN for $200m?

Usually we don't report acquisitions here on UltraLinx unless they're so big that you can't ignore them. And this one is a big one.

Mashable, one of the biggest blogs in the world which mainly reports on social media is being reportedly bought by CNN for a whopping $200 million.

The site receives over 20 million monthly unique visitors a month and has over 4 million social media followers, their Twitter account has 2.7 million followers alone.

Amazingly the site was founded by Pete Cashmore in his own bedroom when he was just 19, in Scotland, 2005. Ever since then it's grown and matured, adding employees along the way. The site mainly concentrated on posting content related to social media but then it later expanded covering many different topics.

It's inspiring to see a story like this unfold. Especially because Pete started off with no capital. He just started off at 19 in his bedroom and hoped for the best. If the deal does go down he'll be $200 million richer at the young age of 26.

The deal is apparently going to be announced officially tomorrow (Tuesday 13th March). Obviously no one is 100% it's actually happening, but TheNextWeb seem quite certain with their source.

I hope the best for Pete, especially because of how hard he has tried ever since a very young age.