Matt Saincome knows that compared to many of the startup acquisitions we write around on TechCrunch, selling a web site for a little over $1 million (mostly cash, using a little inventory ) isn’t a huge deal.
“However, in the world of punk humor media? Whoo boy!” He explained.
Saincome is pleased to poke fun at himself — he’s the co-founder and CEO of a satirical punk news website, after all — but in addition, he sounded really proud of what he is assembled with The Hard Times. He raised outside financing, and he was always fearful that they might endanger the voice of the site, while there were acquisition offers in the past.
“I had always been the financial backstop,” Saincome informed me. Still, at a certain stage,”That started to become irresponsible.”
So he is glad that there will be a bit of a fiscal windfall (not to mention health care and benefits) for himself, his co-founder and editor in chief Bill Conway and their editorial staff, plus a pay bump for freelancers. He also suggested that the acquisition will allow by building out its podcast network The Hard Times to spend seriously in its own plan, such as.
“Should you like The Hard Times, it’s going to be The Hard Times on steroids,” he explained. “It’s very much the exact same direction, but procured and better.”
Here is how creator and CEO Enrique Abeyta laid out the Project M version:”We go out and get existing media properties using an audience, and we reinvigorate or relaunch or put some funds supporting them to grow those audiences. Then we tie that to some vertically integrated e-commerce platform.”
After all, it’s no secret that many online publishers have fought to make the digital advertising model function. And awarded Revolver’s focus on heavy metal and stone, and Inked’s concentrate on vases, there are some organic commerce opportunities — for instance, if you’re reading an article about Metallica, you may also wish to purchase that a Metallica T-shirt.
In the exact same time, Abeyta emphasized the importance of credibility from the books that Project M accelerates, and he said that post-acquisition, they don’t become more corporate.
“I’m a tattooed, mohawked guy running this business out of my house in Cave Creek, Arizona,” he explained. “We’re the least corporate thing on Planet Earth… Our whole vibe when we associate with these entrepreneurs is, we would like to utilize the entrepreneur and the brand.”
So the total Hard Times group, such as Saincome, will remain involved. At precisely the same time, the site’s senior parent company will continue to own and operate the related gaming and technology website Hard Drive.
Saincome said he will also continue operating OutVoice, a separate startup building freelancer payment programs . Actually, one of the results of the deal is that all of Project M’s publications will use OutVoice.
“My function in Hard Times is going to be the visionary, brand-builder sort of man,” he said. That should free up a lot of his time and energy from worrying about daily business worries, and he assured,”I will take that energy and pump it back right into OutVoice .”