Crikey was founded by the activist shareholder Stephen Mayne, a journalist and former staffer of then Liberal Victorian premier Jeff Kennett.

Longstanding Crikey political commentators/reporters have included the former Liberal insider Christian Kerr (who originally wrote under the pseudonym "Hillary Bray"),[2] Guy Rundle, Charles Richardson, Bernard Keane, Mungo MacCallum and Hugo Kelly.

In 2003, Mayne was forced to sell his house to settle defamation cases brought by the radio presenter Steve Price and the former Labor Party senator Nick Bolkus over false statements published about them by Crikey.

[5][6][7] Under Private Media's stewardship, the publication aimed for a more "professional" style by avoiding the use of in-house nicknames and other idiosyncrasies of the original Crikey.

[8] Several staff members left in the period 2013–2014, including senior reporter Andrew Crook and media editor Matthew Knott.