The start-ups that were once the darlings of the industry are facing budget shortfalls and revenue declines as they struggle to survive in an over-saturated market where Google and Facebook lay claim to the vast majority of ad dollars.
Now, the bubble is bursting and many of these companies are looking to sell.
In the latest evidence of volatility, CNN has learned that IAC is entertaining potential buyers for The Daily Beast, the news and opinion site launched nearly a decade ago by former Vanity Fair editor Tina Brown.
“IAC has made it known it’s a seller and various outlets are taking a look,” one source with knowledge of IAC’s sales pitch said. “They’re shopping to all interested parties.”
[contentcards url=”http://money.cnn.com/2017/11/17/media/daily-beast-sale-digital-media-companies/index.html” target=”_blank”]