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NEWS: My company The Hustle is being acquired by @HubSpot !
Very exciting day. Let me fill you in on:
- why a publicly-traded software company is buying a media startup
- how much they paid
- what happens next for The Hustle
- how it impacts you
(a thread!)
Very exciting day. Let me fill you in on:
- why a publicly-traded software company is buying a media startup
- how much they paid
- what happens next for The Hustle
- how it impacts you
(a thread!)
PRICE:
Let’s talk money. You wanna know how much we sold for.
Early in my career I was transparent with money. But I didn’t like the result of sharing that stuff.
So we’re not disclosing the price and HubSpot has agreed. I'm taking it to the grave!
Sorry for the let down...
Let’s talk money. You wanna know how much we sold for.
Early in my career I was transparent with money. But I didn’t like the result of sharing that stuff.
So we’re not disclosing the price and HubSpot has agreed. I'm taking it to the grave!
Sorry for the let down...
BACKGROUND:
I read the Ted Turner (CNN) bio 5 years ago. A loud outsider who loved news. It inspired me to start The Hustle.
The plan was to build a huge email audience with business news that profits w/ ads then use profits to build our own products, then make more content!
I read the Ted Turner (CNN) bio 5 years ago. A loud outsider who loved news. It inspired me to start The Hustle.
The plan was to build a huge email audience with business news that profits w/ ads then use profits to build our own products, then make more content!
EARLY REVENUE
We made $ early with custom ads in the email, something we helped popularize
But I hated relying on ads. Hard to write what you want if 100% ad-based.
It was a means to an end but gave us the profits to bootstrap and build our 1st product, Trends.
We made $ early with custom ads in the email, something we helped popularize
But I hated relying on ads. Hard to write what you want if 100% ad-based.
It was a means to an end but gave us the profits to bootstrap and build our 1st product, Trends.
TRENDS
We launched our first non-ad product last year. Trends is a community, info service for business builders.
Thousands signed up in the first few months and it 5xed in a year. Huge win.
The community is the best on the web for business builders.
We launched our first non-ad product last year. Trends is a community, info service for business builders.
Thousands signed up in the first few months and it 5xed in a year. Huge win.
The community is the best on the web for business builders.
BUYERS
We've had lots of media co's try to buy us. We said no. Most ad 1st media companies are dying. And I don’t want to join a sinking, clickbait ship.
I always thought a b2b SAAS biz should buy us. But never thought they'd be bold enough to try.
But HubSpot came along.
We've had lots of media co's try to buy us. We said no. Most ad 1st media companies are dying. And I don’t want to join a sinking, clickbait ship.
I always thought a b2b SAAS biz should buy us. But never thought they'd be bold enough to try.
But HubSpot came along.
THE MODEL
The model I thought made sense was using news/info to give value to people and hopefully a small % of those readers sign up for our products, like Trends.
This way we could afford the BEST content creators and not use clickbait for ads.
HubSpot loved this idea.
The model I thought made sense was using news/info to give value to people and hopefully a small % of those readers sign up for our products, like Trends.
This way we could afford the BEST content creators and not use clickbait for ads.
HubSpot loved this idea.
THE MODEL
So, when they showed interest, I was super interested.
And then their CEO, Brian, said something I loved: We want to keep you guys weird, keep your content cool - but put more resources behind it.
Music to my ears.
So, when they showed interest, I was super interested.
And then their CEO, Brian, said something I loved: We want to keep you guys weird, keep your content cool - but put more resources behind it.
Music to my ears.
WHATS NEXT
The goal is to build the largest business content network in the world.
Soon, we’ll expand to a variety of mediums on a bunch of different topics and will have really innovative products coming out.
We’re also going to hire the best content creators in the world.
The goal is to build the largest business content network in the world.
Soon, we’ll expand to a variety of mediums on a bunch of different topics and will have really innovative products coming out.
We’re also going to hire the best content creators in the world.
THE TEAM
When we started, the goal was to hire people, driven young people who had zero traditional media experience. We wanted to do things differently.
We proved that it worked. So, to our leadership team, Brad, Steph, Scott, Wes, Ben, Edie, Austin more. amazing work We did it
When we started, the goal was to hire people, driven young people who had zero traditional media experience. We wanted to do things differently.
We proved that it worked. So, to our leadership team, Brad, Steph, Scott, Wes, Ben, Edie, Austin more. amazing work We did it
ACT
Sign up to http://thehustle.co . Sign up to http://trends.co . Follow me on Twitter.
I’ll be sharing more cool info about this deal and the company over the next few weeks!
And I'm doing an AMA in the Trends group :)
Sign up to http://thehustle.co . Sign up to http://trends.co . Follow me on Twitter.
I’ll be sharing more cool info about this deal and the company over the next few weeks!
And I'm doing an AMA in the Trends group :)
And if anyone knows how I'm celebrating...
I'm buying one thing. Liteally just one.
I'm getting my lovely wife @SaraSodineParr
I'm buying one thing. Liteally just one.
I'm getting my lovely wife @SaraSodineParr
THE OUTFIT
