Scots tycoon Pete Cashmore makes eye-watering £37m by selling blogging site Mashable for knockdown price

Internet whizz

Mr Cashmore, 32, is reported to have flogged the firm — valued last year at £185million — to a US gaming tycoon

AN internet whizz has made £37million after selling the firm he began in his bedroom as a teen — for a knockdown price.

Pete Cashmore, 32, is reported to have flogged blogging firm Mashable — valued last year at £185million — to a US gaming tycoon.

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He was praised for the sale

He set up the social media news site in Banchory, Aberdeenshire, aged 19, and it grew to have six million Twitter followers and 3.2million Facebook fans.

In recent months the site has seen staff cuts and attempts to secure more funding.

Earlier today Cashmore was praised by fellow entrepreneurs for the sale.

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Rafat Ali, founder of travel site Skift, said: "Mashable is still a great start-up story, started as a blog in a corner of Scotland and became a cultural thing.

"It's still a big achievement beyond monetary returns."

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Cashmore launched the site in 2005 while recovering from appendix surgery. Time magazine named him among the world's 100 most influential people in 2012.

In January he ann­ounced his engagement to lifestyle blogger girlfriend Kimmy Huynh, 33.

The New York-based businessman featured in this year's Sunday Times Rich List with an estimated £170million fortune. He was unavailable for comment last night.ben.archibald@the-sun.co.uk

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Source: Scots tycoon Pete Cashmore makes eye-watering £37m by selling blogging site Mashable for knockdown price