Actually, PaidContent Sold For $12.5 Million


TechCrunch reported earlier that PaidContent sold for $6.5 million, not the $30 million number that was thrown around at the time of the deal.

Actually, PaidContent sold for $12.5 million, a source tells us. 

Apparently, there was a $6 million temporary cash escrow/holdback that was separate from the $6.5 million initial payment that TechCrunch’s source, the UK’s Press Gazette, reported.

(This $6 million escrow was also separate from the additional potential upside from the earnout, which our source describes as a pipe-dream).

So, Rafat’s sitting pretty!   (We’ve tweeted him for confirmation).