Tech news site Gizmodo has been acquired by European publisher Keleops, marking the third time the website has changed hands in eight years. While the financial details of the deal were not disclosed, one thing is clear: Gizmodo’s value has climbed significantly since its last sale. G/O Media CEO Jim Spanfeller confirmed to the Associated Press that the sale price was “substantially more” than what Univision Communications paid in 2019.
A rollercoaster ride for Gizmodo
In 2016, Univision acquired Gawker Media, Gizmodo’s then-parent company, for $135 million following Gawker’s bankruptcy. Just three years later, Univision sold both Gizmodo and satirical news site The Onion to investment firm Great Hill Partners for what was said at the time a big discount, leading to the formation of G/O Media. Gizmodo has carved a niche for itself with its deep dives into the world of technology. The website gained international notoriety in 2010 after purchasing a lost prototype of Apple’s iPhone 4. The incident, which Apple’s co-founder Steve Jobs claimed was stolen, resulted in an apology from a Gizmodo editor.
Expand its reach in the tech journalism space
Gizmodo is Keleops’ first U.S. acquisition. The digital media and tech company is seeking to expand its reach in the tech journalism space. “Acquiring Gizmodo represents a strategic move for Keleops as we continue to strengthen our presence and leadership in the tech media industry”, said Jean-Guillaume Kleis, CEO and Founder at Keleops. “Gizmodo is an iconic technology news brand with strong recognition worldwide, and I am delighted to welcome such a high-quality and trusted brand into Keleops family”. Keleops was founded in 2014 as a performance marketing firm and has evolved in the past five years into a media company thanks to a few acquisitions in the media industry. By expanding its reach within the industry and internationally, the company anticipates effectively doubling its current audience size, fostering deeper brand awareness and engagement.
