Funny or Die Up for Sale, Even If It’s Not Looking to Sell
Funny or Die might be on the block.
The comedy video site, founded by Will Ferrell, Adam McKay, and Chris Henchy, has been approached by numerous potential buyers, according to Funny or Die’s president and CEO Dick Glover. “We’ve received unsolicited interest from a number of companies,” said Glover in a memo. “We are not trying to sell Funny or Die, but we thought it wise to engage some experts to help us evaluate the situation.”
VideoInk was able to obtain the memo following a report from Bloomberg which revealed that Funny or Die had hired Moelis & Co. to advise on any potential acquisition talks. The investment bank has been in contact with potential buyers to assess interest in a deal. The asking price, according to the Bloomberg report, is between $100 million and $300 million.
Founded in 2007, Funny or Die’s investors include Sequoia Capital and Time Warner, which also has a marketing arrangement with the comedy site via its Turner Broadcasting arm.
Funny or Die has not responded to a request for comment.Tags: Acquisitions, Dick Glover, funny or die, Moelis & Co., sequoia capital, time warner