"Nick Denton's gossip empire published a celebrity sex tape. Peter Thiel secretly funded the lawsuit. $140M judgment filed Chapter 11. Univision bought the network for $135M. Gawker.com went dark."
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RAISED
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EMPLOYEES
168
MONTHS
founder chaosSudden Collapse
Unexpected shutdown within weeks of a trigger
// Fatal mistake: Published Hulk Hogan sex tape in 2012 creating a lawsuit that Peter Thiel secretly funded to $10M — turning a $1.5M settlement offer into an unappealable $140M verdict through litigation the company had no resources to survive
Key Events Timeline
2002-12
PRODUCT LAUNCH
Gawker.com launches as gossip and media criticism blog covering New York. Nick Denton, British journalist and internet entrepreneur. Expands to Deadspin (2005), Gizmodo (2002), Kotaku (2004), Jezebel (2007), Jalopnik (2004).
2012-10
REGULATORY ACTION
Gawker publishes clip from Hulk Hogan sex tape. Hogan sues for $100M. Peter Thiel, secretly aggrieved since 2007 Valleywag outing, identifies the case as one to fund. $1.5M settlement offer declined by Gawker.
2016-03-18
FRAUD EXPOSURE
Florida jury awards Hulk Hogan $115M compensatory + $25M punitive = $140.1M total. Largest privacy judgment against a media company in US history. Gawker's equity is immediately worthless. Interest accruing on judgment makes financial position terminal.
2016-05
SHUTDOWN
Peter Thiel confirms he funded Hogan lawsuit ($10M) in revenge for Valleywag outing him as gay in 2007. National debate about billionaire litigation funding as censorship. Settlement negotiations fail.
2016-08-22
SHUTDOWN
Gawker.com publishes final post. Site goes permanently dark. Univision acquired other network properties for $135M. Nick Denton files personal bankruptcy. Gawker.com's 14-year archive effectively gone.
🔥 Hall of Flame 85%🏆 Hall of Fame 82%
Gawker was founded in December 2002 by Nick Denton, a British journalist and internet entrepreneur, as a gossip and media criticism blog covering New York City and the media industry.
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