![]() ![]() And that is about a tenth of annual revenue growth. "The additional cost of the new space, once sublets are factored in, is about 3% of revenues. And last year, the company signed a lease on new office space in Union Square, which Denton expects will cost about three percent of the company's annual revenues. The company is also facing a $100 million lawsuit from wrestler Hulk Hogan, who claims that the site violated his privacy when it posted his sex tape. Over the past few years, it has expanded its reach in the technology space, hiring a large tech staff and spending millions to create a new content management system called Kinja that it hopes to eventually license to other media organizations. In 2011, for instance, Gawker only had about $20 million in ad revenue and less than $5 million in revenue from e-commerce and licensing.īut the company also faces large expenses and may not have much cash on hand. ![]() Revenue, particularly from e-commerce, has grown a great deal in recent years. Gawker Media's revenue is a mix of traditional ad revenue (about $35 million last year) and e-commerce revenue (about $10 million). According to Business Insider's Alyson Shontell, the company will raise about $15 million-less than 10 percent of its open-market valuation, which Shontell estimates is about $250 million-in a fundraising round led by Young America Capital.ĭenton has long refused to sacrifice Gawker's independence for venture capital funding, and he personally controls just under 50 percent of the company, with another 40 percent or so controlled by what he calls "Gawker insiders."
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