Has snopes received outside investment or been involved in ownership disputes?
Executive summary
Snopes was the center of a protracted ownership and legal fight beginning in 2017 that involved Proper Media and Bardav Inc.; that dispute led Snopes to solicit public donations in 2017 and culminated in co‑owners Chris Richmond and Drew Schoentrup acquiring 100% of the company in September 2022 (Richmond 60%, Schoentrup 40%) according to Snopes’ own disclosures and news reports [1] [2] [3]. Available sources show Proper Media played a commercial and ownership role that spawned litigation and counterclaims but do not report outside venture capital investors in Snopes beyond the parties named in those disputes [4] [1] [2].
1. The dispute that made “ownership” a headline
Beginning after co‑founder David and Barbara Mikkelson’s divorce and Barbara’s 2016 sale of her stake, Snopes became entangled in litigation with Proper Media, which had been providing hosting, web development and ad services and then acquired a stake in Bardav; Proper Media sued Bardav and David Mikkelson claiming a scheme to seize control, while Snopes and Mikkelson disputed those allegations — a fight documented in courtroom filings and contemporaneous news coverage [4] [1] [5].
2. How the dispute affected Snopes’ finances and fundraising
The legal fight had immediate operational consequences: Snopes said advertising revenue was withheld by Proper Media, leaving the site cash‑strapped and prompting a public GoFundMe-style fundraising drive in 2017 to keep the newsroom running, a fact reported by TechCrunch and other outlets at the time [6] [7] [8].
3. Who ultimately owns Snopes today, per the record
Reporting and Snopes’ disclosures indicate the ownership question was resolved in 2022: Chris Richmond and Drew Schoentrup — previously connected to Proper Media’s leadership — acquired 100% of Snopes Media Group, with Snopes’ disclosures listing Richmond as 60% owner and Schoentrup 40% as of July 2025 updates [3] [2] [9].
4. Were there “outside investors” or venture capital backers?
Available reporting and Snopes’ own disclosure page state that Snopes is owned by Snopes Media Group, Inc., with the two named owners the only shareholders; sources in this set do not describe outside venture capital investors beyond the Proper Media‑related parties who were involved in the dispute [2] [9] [4]. Third‑party business profiles such as PitchBook or Crunchbase are listed but their full funding data is gated or requires subscription; those entries in our set do not contradict the absence of outside investors in the cited disclosures [10] [11].
5. Competing narratives and agendas in coverage
Proper Media’s complaint framed events as a corporate subterfuge to take over a popular site; Snopes’ side and later the co‑owners presented the resolution as an amicable settlement that restored control and settled legal claims. News outlets (Courthouse News Service, Wired, The Seattle Times, Poynter) reported conflicting allegations of financial mismanagement, counterclaims and contested motives — signaling that each party advanced a legal narrative that served its corporate and reputational interests [4] [1] [5] [12].
6. What the public record does not show (limitations)
Available sources in this collection do not mention venture capital, private equity, or other external investors acquiring minority or majority stakes in Snopes outside the Proper Media and the eventual Richmond/Schoentrup ownership transfer; if other outside funding exists, it is not referenced in these documents (not found in current reporting) [2] [3] [10].
7. Why this history matters for readers of fact checks
Ownership disputes and revenue interruptions can influence staffing, editorial capacity and public trust. The record shows Snopes survived fundraising and legal turmoil, then consolidated ownership under two individuals who now appear as the only disclosed owners — a structural fact readers should weigh when judging institutional stability or potential conflicts [6] [2] [3].
Sources cited: court and news coverage of the Proper Media v. Bardav dispute and its aftermath (Courthouse News Service, Wired, Seattle Times, Poynter, Nieman Lab), Snopes’ own disclosures and the 2022 ownership announcement [4] [1] [5] [12] [13] [2] [3] [6].