Puck, the subscription newsletter and events business, is in late-stage talks with private investment firm RedBird Capital Partners about a deal that would see RedBird becoming its largest shareholder, sources confirmed to Axios.
Why it matters: The deal, which values Puck at roughly $250 million, would set a strong industry benchmark for other media startups looking to liquidate.
By the numbers: Puck raised more than $17 million since it launched in 2021.
It acquired Air Mail, another subscription email startup with overlapping investors, in a cash-and-stock deal worth $16 million last year. Air Mail had raised more than $30 million across two funding rounds.
Neither Puck nor Air Mail were profitable at the time of the transaction, Axios reported.
#puck #axios
Why it matters: The deal, which values Puck at roughly $250 million, would set a strong industry benchmark for other media startups looking to liquidate.
By the numbers: Puck raised more than $17 million since it launched in 2021.
It acquired Air Mail, another subscription email startup with overlapping investors, in a cash-and-stock deal worth $16 million last year. Air Mail had raised more than $30 million across two funding rounds.
Neither Puck nor Air Mail were profitable at the time of the transaction, Axios reported.
#puck #axios
2 months ago
