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Mashable could sell for $200m

by: isev

on: 13th March, 2012

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If this acquisition goes ahead it will be CNN’s largest to date, and the biggest price paid for a social media news site.

The US news giant is thought to be in talks with Mashable about buying out the technology and social media site.

It has been revealed by finance blogger, Felix Salmon, that a ‘little bird’ had said that CNN is about to pronounce its acquisition of Mashable for at least $200m.

A further clue was seen when Mashable’s executive director, Adam Ostrow, ‘liked’ Salmon’s report on Facebook.

Both websites have not commented as of yet, but with Mashable trending across Twitter the rumour is spreading quickly.

Many tweeters have said that the two websites would be a good fit, with a similar consumer’s audience and style.

However, the high price is being doubted by many social-media savvy tweeters.

One digital entrepreneur Rafat Ali tweeted: ‘Jeez, who is surprised? They’ve practically been in bed for last 2-3 years,’ but he added that the price was ‘fantastical’.

If CNN did buy Mashable for the rumoured $200m it would be the highest price paid for a social media technology site ever and would also be their largest acquisition in the company’s history.

For founder of Mashable, Pete Cashmore, who chose not to go to university and instead began the blog from his home in Aberdeen, this would surely be a tidy sum.

Since the sites beginning in 2005, the website now has 20 million monthly users and four million social media followers.

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