Mashable raises $13 million in funding
Mashable is a popular tech blog, founded by Pete Cashmore, that has raised $13 million in Series A funding. Mashable was founded in 2005 and focuses on social media, entertainment, lifestyle, and world news. Currently Mashable reaches 30 million monthly visitors and has a staff of 120 full-time employees. This is Mashable’s first round of outside funding.
This round of funding was led by Updata Partners with participation from New Market Ventures Partners, Social Starts, Buddy Media co-founders Michael and Kass Lazerow, Elio Leoni Sceti, and Havas Global CEO David Jones. Mashable currently has offices in San Francisco and New York, but has plans to expand into Los Angeles and London.
“Walking around our office today, I’m both impressed and humbled by the strength, experience and dedication of our team. From our growing roster of news-breaking journalists to our experts in social and community development, it’s a rare feat for a media company to experience rapid and sustained growth during eight years of industry transition; It is even rarer to do so without external funding,” wrote Cashmore in a blog post.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry