Two Years After Buying Elite Daily, the Daily Mail Says the Facebook Publisher is Worthless

Elite Daily used to look like a digital publishing success story: Founded by a couple of twentysomethings in 2012, fueled by Facebook growth, then sold for many millions a few years later.

Now it is a cautionary tale: The owner of the Daily Mail, the publisher that bought Elite Daily in January 2015, says the New York-based startup has been a bust, and has written down all of its investment in the money-losing company, citing “poor performance.”

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