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I don't really see the Mashable sale as a significant sign post of anything. It was vastly overvalued and $50 million is a pretty reasonable price for what it is today. Hell, it might even be high.
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I'm not criticizing the work, or anything like that, but bubble popping of startups' over blown valuations is continual, not cyclical, and Mashable's was a long time coming.
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I would be very interested in a Mashable 'postmortem', especially because they spend numerous years in pretty non standard biz models, which is why they're a bad measuring stick for the larger industry.
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*spent