ISSUE – Dec. 08 | News Digest TheSkimm Explores Possible Sale, Investment After Receiving Interest

TheSkimm, the daily news digest that has taken off with younger women, is exploring a possible sale after being contacted by an interested buyer, according to people familiar with the matter.

After receiving the inbound interest, theSkimm has been holding preliminary discussions with media companies to gauge their interest in investing or acquiring it outright, said the people. They cautioned that it is possible that no deal will materialize.

As many digital publishers are looking for exits in a market poised for consolidation, theSkimm has been a success story in reaching a younger, engaged audience with its free, early morning newsletter that sums up the news of the day in a concise but chatty style for an on-the-go professional.

Founded in 2012 by former NBC employees Carly Zakin and Danielle Weisberg, theSkimm so far has raised more than $16 million from investors including Homebrew Ventures, 21st Century Fox and RRE Ventures. In June 2016, theSkimm completed an $8 million round that valued the company at $55 million, Recode reported. (21st Century Fox and Wall Street Journal parent company News Corp share common ownership.) [ WSJ ]

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