In January 2016, Gawker Media received its first outside investment by selling a minority stake to Columbus Nova Technology Partners. Denton stated that the deal was reached in part to bolster its financial position in response to the Hogan case. On March 18, 2016, the jury awarded Hulk Hogan $115 million in compensatory damages. On March 21, the jury awarded Hogan an additional $25 million in punitive damages, including $10 million from Denton personally. Denton said the company would appeal the verdict. On April 5, Gawker began the appeal process. On November 2, Gawker reached a $31 million settlement with Bollea and dropped the appeal.