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Newsletter Puck Valued at $250M in RedBird Deal
24 Sep
Summary
- RedBird Capital Partners acquiring a majority stake.
- Puck startup valued at approximately $250 million.
- Deal to accelerate growth, new market entry, and IP expansion.
RedBird Capital Partners is set to acquire a majority stake in Puck, a five-year-old newsletter startup, in a transaction that values the company at approximately $250 million. This significant investment aims to accelerate Puck's growth trajectory.
The capital infusion will support several key initiatives, including further investment in Air Mail, which Puck acquired last year. Hiring additional talent, expanding into new markets, pursuing strategic acquisitions, and developing intellectual property into various formats and channels are also planned.
Standard Investments and TPG, early backers of Puck, will exit their positions. RIT Capital will retain a minority stake, alongside RedBird. The deal, anticipated to conclude within a month pending regulatory approval, will not impact Puck's editorial independence or its current business model.
