The Gawker Bid (Gawker For Good)

On January 10th, Didit submitted a bid to the Gawker Media Estate (in bankruptcy) for the Gawker domain and related assets with the intention to transform Gawker into Gawker For Good, publishing only “good stories” and “good gossip” and allocating 50% of net ad revenue to nonprofits. At the time we had no idea who else might have bid, however, we assumed that Peter Thiel would bid given the history of Gawker. He did bid.

On January 30th, 2018, a document was leaked identifying Mike Cernovitch as having bid $500,000 for Gawker.

On April 25th, 2018 it was reported that Peter Thiel had settled separate litigation with the Gawker Estate and as part of that settlement has agreed to withdraw from the auction and not to litigate regarding the archives with the eventual buyer.

Stay tuned for the next chapter of the adventure.

The Didit management team believe that the transformation of Gawker into Gawker For Good is a fitting next step for the website and brand. Gawker’s history is a fascinating study into celebrity-focused and gossip/rumor focused journalism. Of course it’s history also includes issues such as personal privacy and in particular First Amendment issues.

Our vision for the new Gawker is one of the Phoenix Rising From the Ashes. The key to the success of the Gawker For Good model is that powering publishing based on passion and purpose changes the economics and can generate millions for participating nonprofit causes.

50% of net advertising/sponsorship revenue (after direct costs are subtracted) are allocated to the nonprofit causes and/or cause categories selected by the readers and content creators/co-creators.