The digital media bubble continues to show signs of bursting. Recode reports that Mashable–once valued at $250 million–is selling itself to publisher Ziff Davis for less than $50 million. The site will reportedly lay off about 50 employees and refocus coverage on “tech and tech-lifestyle content.”
Mashable employees are reportedly being informed about their employment status today.
Some context: Mashable is currently emailing some employees to let them know they’re safe and still have jobs, and emailing others to let them know they have “individual meetings” today. https://t.co/uXX8cts2B3
— Max Tani (@maxwelltani) December 5, 2017
Mashable isn’t the only company feeling hard times. BuzzFeed announced a series of layoffs last week. As I wrote, this development could be interpreted as an indicator of the increasing headwinds faced by digital media companies operating against the Facebook/Google duopoly. We’ll have to wait and see what the next media crisis will be.CGW