Pete Cashmore Net Worth

What Is Pete Cashmore's Net Worth?

Pete Cashmore is a Scottish entrepreneur who has a net worth of $20 million. Pete Cashmore is the founder and former CEO of Mashable, the leading source of news, information, and resources for the Connected Generation. In 2005, Cashmore founded Mashable in Aberdeen, Scotland, at the age of 19. His passion for sharing the way web tools and social networks are transforming human interactions and reshaping cultures drove him to create Mashable. Always an entrepreneur, Cashmore continued to push Mashable to evolve from a tech blog to a global media company built around technology. He was crowned by INQ as the most influential Briton and most influential Twitter user in the world in 2009. Before leaving Mashable in 2018, he led the company's strategy, and his innate sense of the web and its community were core to the company's operations and potential growth. Pete has been described as the "Sage of Media" and is considered one of the most influential voices of his generation—on and offline.

Valuation and Sale

At its peak, Mashable raised money at a valuation of $250 million. At that value, Cashmore was worth $120 million on paper. The company then proceeded to lay off 30% of staff and "pivot to video." Unfortunately, this strategy never produced a profitable business. In some years, the company lost $10 million. In November 2017, Mashable was acquired for $50 million.

Early Life

Pete Cashmore was born on September 18, 1985, in Banchory, Scotland. During his youth, he suffered from appendicitis. He told Inc. in 2012, "When I was 13, I had an appendectomy and for whatever reason it didn't go too well and I didn't really recover. So, as I, for quite a few years trying to like rest up, get better. And I missed school a lot, so I was kind of out of sync with my friends. So, I just started going my own way, using computers, trying to learn as much as I could. Blogs were springing up, so I subscribed to as many blogs as I could. Read absolutely everything I could and it kind of became my replacement education in a way. It's pretty exciting when you see like in a year, these guys have gone from a garage to having one of the biggest companies in the world… The idea that you could change the world from your bedroom was pretty compelling to me. So, I thought, wow! If I could even do one percent of that, that would be exciting."

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Mashable

Cashmore founded Mashable in 2005 when he was just 19 years old. He was subsequently included on Forbes' 2009 "Top 25 Web Celebs" list, Inc.'s 2009 "30 Under 30" list, The Huffington Post's "Top 10 Game Changers 2009" list, and Time magazine's list of the 100 most influential people of 2012. Actress Alyssa Milano wrote his profile for the "Time 100" and spoke about his good deeds, stating, "On his 23rd birthday, he used social-media sites to raise money to build freshwater wells in Africa. His team then launched the Social Good Summit, an annual conference dedicated to making a better world through social media. Pete started Mashable because he wanted to be part of the conversation about technological change. Mashable gave him a voice. Today, it gives voice to millions who are trying to make their lives better through digital innovation." Cashmore was selected as a Young Global Leader at the 2011 World Economic Forum. He was a columnist for CNN, writing about social media and technology. Ziff Davis purchased Mashable for $50 million in 2017, and the following year, it was announced that Pete was leaving the company.

Personal Life

Though he grew up in Scotland, Pete is now based in Los Angeles, California.

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