Forbes, the chronicler of the wealthy and powerful, announced on Tuesday that it was exploring a sale of its business after a previous deal to go public fell through. According to the document, Forbes generated more than $200 million in revenue and more than $40 million in profit in 2021, two of the people said. The people said Forbes was exploring selling for at least $630 million. That is the valuation that the company declared when it moved to go public through a special-purpose acquisition company, or SPAC. Integrated Whale Media Investments owns a majority of the company.

Source: Forbes August 02, 2022 18:03 UTC