Wearable World incubator acquires tech blog ReadWrite — venturebeat.com

VentureBeat has learned that Say Media has sold the technology blog ReadWrite to Silicon Valley-based incubator Wearable World for an undisclosed amount. We reached out to Wearable World CEO Redg Snodgrass, and he confirmed that our sources were correct. However, he would not offer comment on the deal, which was supposed to be announced sometime later in the month. ReadWriteWeb, as it was originally called, is a developer-focused tech blog, and has been a staple of the tech blogosphere since its launch in 2003. But parent company Say Media has run into trouble lately, recapitalizing with a $5 million investment at a $5 million pre-money valuation. Previously, the company raised over $100 million, so that’s a big devaluation. As part of the restructuring, Say was looking to unload its media properties, including ReadWrite.

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