I might be missing something, but I couldn’t find any actual investment terms tied to this. I'd expect at least basic clarity on things like what investment terms (valuation etc) would be offered?
Depends on the health issues. In the US, northeast and Florida at least there are many free courts almost everywhere. And plenty of older folks with small or medium health issues still find the time and motivation to play.
the reason G/O failed was due to leadership. Full Stop.
the audience that was assembled was actually impressive and the PE money was used correctly to build an interesting portfolio of sites.
From there it was an operational disaster. All the important sites they had have been acquired by better run companies which confirms that the underlying assets were pretty good, they just needed to be run by someone else.
On good authority here's a good example: They have one of the top car blogs in the world, and had zero dedicated auto ad sellers. Anyone who knows auto in advertising knows you need people in LA and Detroit full time on the agencies and OEMs.
That's not how these things work. When a company sells an asset the funds go back to the company that sold that asset. So if the "seller" has debts or other obligations those still remain and proceeds from the sale would go towards satisfying those. However, in this case it sounds like the deal was largerly about the employee costs + some cash to the sellers.
Nothing about that article surprises me regarding G/O but there is one point that Zach makes about his transaction that he is wrong about:
"Thanks to G/O's stubborn insistence that it only wanted Quartz's assets and not the corporate entity"...
this is not stubborn it's quite common and is absolutely the right thing to do for many companies interested in another business. If they buy your entity (stock transaction) it comes with all the legal liability.
Zach probably doesn't understand how much more likely his deal was to close as an asset purchase rather than a stock purchase. A stock purchase comes with lots more diligence and legalese. If they are buying your stock they are buying all your baggage and potential legal matters, it requires a lot more work including a laundry list of representations by the seller. G/O did everyone a favor by sticking to an asset purchase and getting the deal done. that's where the positives end it seems.
I love the way he's thinking about this. I think the subscription estimates are a little optimistic and the payroll is too high but overall it makes sense.
I've had to report on users for previous media companies I have run. Using a daily number will make the overall number seem higher than the monthly total unique users.
Here is an example of one site I ran a long time ago to illustrate:
Average daily unique users: 111,000
Total unique monthly users for the same period: 2MM unique users.
I could see how the interpretation of the average daily might have someone inferring it's x 30 for a month so call it 3.3MM users during the month but the actual monthly total is lower.
I don't think there is anything wrong with reporting daily especially if it's the type of site or app where the user is likely to be there on a daily basis vs say the websites of the past two decades where half the readers only come once and the other half come 2 -10+ times.
I don’t think this is accurate. It’s usually not the company directly raising on AL. Rather it tends to be a syndicate with partners who have a connection with the company that is raising.
There are various reasons why a hot company might still have a syndicate including the syndicate lead was an early investor in the company so the founder is giving them an allocation in the subsequent rounds.
Im assuming you don’t live in NYC because if you did you would know how uncomfortable it is to be waiting for the subway with clearly (a lot of) mentally unstable people walking and yelling in circles and you or your loved ones are relatively alone just trying to use public transportation.
100% im glad they spent that money, they need MORE policing in the subways until they find a way to help the mentally ill unhomed.
Is not paying an option? Ran into this issue with a large software provider once but they had some actual account management negligence / weren't responsive so we used that to hang our hat on not paying and eventually they let it go.
Google's premium ad network for professional publishers is AdX which is run via the google ad manager product and has been on a CPM basis for over a decade. Only small sites are on adsense which pays CPC.
The net change here is probably almost nothing, just the smaller sites that never use google ad manager will see the change but any publisher of note will have been operating with this for as long as they can remember.
With click through rates continuing to decrease it's likely they needed to make this change to keep the long tail sites happy and generating some revenue, they would back out the CPC to an effective CPM anyway.
Me:13+ years in digital publishing and advertising.
I’ve been to low or no tipping countries like France and Brazil and the service is incredibly bad. Coming back to the states is a breath of fresh quality service air.
I grew up in Cornish. Most of us knew. Our plumber was his plumber etc etc. he was left alone, there’s a lot of interesting art in the community to see, his house not being one of them.