Bryan Goldberg and Bustle are back at it again…
Earlier this year in our 2019 NYC Tech Influencers, we dubbed “Bryan Goldberg the buyer of choice for distressed media assets. “ Weeks later, we learn that Goldberg and Bustle have scooped up The Outline, a digital news publication launched in 2016 by Joshua Topolosky. Terms of the transaction were not disclosed but all signs point to this being an acquihire as The Outline shed the majority of its staff in the Fall of 2018.
This marks the fifth acquisition for Bustle and Goldberg, who founded Bleacher Report and later sold it to Turner Broadcasting Systems for in 2012. The startup, founded in 2013, previously acquired Elite Daily, Mic, Flavorpill, Gawker, and the Zoe Report. Its combined audience reaches over 80M per month according to the company. Bustle Digital Group has raised $50.5M in funding from investors that include 500 Startups, General Catalyst, GV, GGV Capital, Social Capital, Rothenberg Ventures, Time Warner Investments, and Saban Capital Group.
Founded by Topolsky in 2016, The Outline had raised $10.2M in funding over two rounds and was backed by investors that include Boat Rocker Ventures, Advancit Capital, RRE Ventures, and NextView Ventures. Topolosky and current team of eleven will remain will be moving over to Bustle in conjunction with the acquisition.