Shiny Media goes into administration
By Rebecca Burn-Callander, published 1 year ago in Internet Business.
Co-founder Katie Lee announces that Shiny Media has gone into administration on Twitter. The blog network may already be under new ownership.
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Shiny Media launched in 2004 as the UK's first blog network. By 2007, Shiny Media had raised $4.5m from VC firm Bright Station and was turning over just under £1m.
However, reports at the end of last year stated that the firm had hit hard times. Katie Lee and Chris Price denied that Shiny Media was in trouble, stating: “Revenue is going up month on month and traffic has increased 26 per cent over the last 12 months. So it seems ‘rumours of our death’ - to paraphrase Mark Twain - have been greatly exaggerated.”
Neverthless, a number of its most popular sites, including the unofficial Chelsea, Manchester United, Arsenal and Spurs football blogs, have been inactive for almost a year.
Katie Lee posted this tweet on her Twitter account earlier today: "Looks like everyone knows Shiny Media has gone into administration. Still not entirely sure what's going on tbh. Sorry for all writers.” Rumour has it that a new buyer has already been lined up. More news on the Shiny Media acquisition as soon as we have it.
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