It was reported that the Otto family, which were some people who were early Google employees and made $ from stock options, bought into the website. Not sure if that is true but that’s what comes up on search.
It was reported that Matt made so much cash from the site - low overhead and huge ad revenues - one wonders why he would sell it at all. Maybe an offer he couldn’t refuse. Maybe he just got tired of it. He tried talk radio but that didn’t work out. He missed the podcast / vlogging boom entirely. I guess he either decided to retire or maybe just gave up editorial control and still helps it run in some sort of emeritus capacity. Maybe he was never that serious an out it and it was just a gag that far exceeded his expectations.
But the beauty of it is that it keeps raking in money, only now from the liberal side of the spectrum, unless he sold it for big money, ad wanted the money in a lumpsum.