Puck in Advanced Talks with RedBird Capital Partners on $250M Deal
Puck, a subscription newsletter and events business, is reportedly in advanced talks to secure an investment from private equity firm RedBird Capital Partners that would value the company at around $250 million. The deal could see RedBird become Puck’s largest shareholder by purchasing shares held by existing investors such as Standard Investments, TPG, and J Rothschild Capital Management. The transaction is notable for setting a strong valuation benchmark in an industry where many digital media startups have seen their valuations decline recently. Puck has raised over $17 million since its 2021 launch and acquired Air Mail last year in a deal worth $16 million, though neither company was profitable at the time. RedBird is already an early investor in both companies and would become the leading private shareholder if this deal closes. Puck's spokesperson emphasized that the business model — focused on premium content, direct audience relationships, and journalistic independence — will remain unchanged.
Topics: investment deals media startups