Conservative investors look to bail out struggling Messenger news site at a reported $60M valuation
NY Post
Struggling news startup the Messenger is reportedly in talks with a group of conservative media and business executives, Axios reported late Thursday.
The publication said the group is proposing $30 million for a 51% stake, which would put the embattled news site’s valuation at a bloated $60 million. The deal would require founder and chief executive Jimmy Finkelstein to give up control.
Axios also separately reported that the Messenger, which laid off nearly two dozen employees of its 300-person staff amid cratering cash reserves, is looking to raise $20 million in order to stay afloat.
In regards to the investor group, Axios said they met with Finkelstein at Mar-a-Lago, the Florida private club and residence of former President Donald Trump.
They included Omeed Malik, a financier who backed Tucker Carlson’s new media venture; Garrett Ventry, a Republican political operative; Ryan Coyne, founder of digital media agency Starboard; and George Farmer, the former CEO of Parler who sits on the board of Britain’s conservative news network GB News.
Neither the Messenger nor the group responded to requests for comment.
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