A lot of digital media companies are said to be looking for buyers, facing the same pressures that forced Mic to sell at a fire sale. But the Mic sale, combined with overall business pressures, suggest they wont get the price they hope for.
Once high-flying Mic raised $US60 million to build a media company to target millennials, but it sold to Bustle Media Group for a reported $US5 million. The deal struck resemblance to another new-media darling Mashable that sold at this time a year ago for about $US40 million, one fifth of its onetime value.
Now, the buzz is that other investor-backed companies such as Refinery29, Vox Media, and Vice Media might look for an exit. Refinery29 and Vice said theyre not for sale. Vo…
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