Huge numbers of people are relying on us to come and read about local food and drink, and that's part of being a brand that does everything that your audience could want you to do, but we're a video company. GettyImages.

I think it sold for something like tens of millions of dollars. That was physically hard.

Do you want to invest with us?". He sort of, like, asks my opinion, but like certainly not asking me for any money, because I don't have any, and we're, like, OK sure.

They have different management teams.". You build totally around your consumer, you unapologetically go to where they are, you unapologetically create in the format that is going to get the most distribution. I mean, yeah — he's been helpful. By clicking ‘Sign up’, you agree to receive marketing emails from Business Insider I think a website is there because of search and because if you're building brands that answer questions that people might have, you should be there for those people.

Shontell: I know your portfolio better than you do.

Subscriber The Dodo published an article titled, ". In May 2014, The Dodo got its first big validation moment. And then after that he took a little time to figure out what he wanted to do next and started HuffPo.

I wanted to do something connected to my research but that also had real world impact," Lerer says. So you don't build a brand in the wind to get bought, but you build the next holding company.". as well as other partner offers and accept our, Alberto E. Rodriguez/Getty Images for Discovery Communications, Former Microsoft CEO and LA Clippers owner Steve Ballmer. And so we grew Thrillist really nicely, and then all the while had this idea that there were changes happening in media that were big and exciting. What was that first newsletter you sent?

And just about this time I started investing.

Shontell: And you said that Discover went all in, they invested about $100 million into this new digital entity, holding company, and I think you were valued at $580 million through this deal.


And if we started it five years from now, I think we would be too late. You have your buy-in. You own one of the 20 or 30 or 40 brands that matter in digital, and if I were in your shoes, I would think about taking what you have and doubling down. When I was running Thrillist, I said, "How do we take these direct-to-consumer-commerce companies that we're investing in and some of that philosophy and marry that with what we're building at Thrillist?"

You guys are in DailyCandy.

It's just unbelievable how in the startup world it takes a decade to make a brand that anyone gives a sh-- about. Her father Ken co-founded The Huffington Post, which was acquired by AOL for $315 million. But a little bit of it was "OK, well, great, we're on their trajectory, so my phone must not be working because no one's calling and offering us $125 million for the business — I don't know what's going on.".

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