Alpert and Mullin report, “The company, Uzabase Inc., agreed to purchase Quartz in mid-2018 in a cash-and-stock deal that could have been worth as much as $110 million based on whether the site hit certain financial goals. Uzabase ultimately only paid about $86 million.
“The economic fallout from the coronavirus pandemic has also pushed Uzabase to seek an exit from the business, some of the people said.
“Many digital-media companies have been working to cut costs and preserve capital, and the market for raising funds is tight, so it may prove challenging to find a buyer at an attractive price, one of the people said.”
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