MASHABLE SOLD: 50M dollars; 50 Workers out; Pete Cashmore stays

Founder Pete Cashmore is staying after Mashable being sold for less than 50 million dollars, but 50 workers are being laid off on Mashable, after the fire selling reported today by Recode.

Recode published today that “Ziff Davis, a digital media subsidiary of tech company J2, is buying Mashable for less than $50 million.”

There will be a refocus the company on tech and tech-lifestyle, and about 50 employees will be laid off.

Ziff Davis specializes in running low-cost publishers that generate a significant amount of their revenue from “affiliate commerce”.

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