Matt Saincome is common knowledge that compared to many of the startup buys that we write about on TechCrunch, selling a website for a little over$ 1 million( mainly currency, with a little stock) isn’t a huge deal.
” But in the world of punk comedy media? Whoo boy !” he said.
Saincome is happy to poke fun at himself — he is the co-founder and CEO of a sardonic punk word website, after all — but he likewise resounded genuinely proud of what he’s built with The Hard time. He never raised outside fund, and while there have been acquisition offers in the past, he was always afraid that they are to be able to threaten the site’s voice.
” I had always been financing of the backstop ,” Saincome told me. Still, at a certain point,” That started to become irresponsible .”
So he’s happy that there will be a bit of a business 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 fee bump for freelancers. He also suggested that the acquisition will allow The Hard Times to invest more seriously in its editorial approach, for example by construct out its podcast network.
” If you like The Hard Times, it’s just going to be The Hard Times on steroids ,” he said.” It’s very much these directions, but better and secured .”
Here’s how founder and CEO Enrique Abeyta laid out the Project M simulate:” We go out and acquire existing media properties with an audience, and we reinvigorate or relaunch or situate some fund behind them to grow those publics. Then we tie that into a vertically integrated e-commerce platform .”
After all, it’s no secret that many online publishers have struggled to establish the digital ad model exertion. Given Revolver’s focus on heavy metal and rock-and-roll, and Inked’s focus on tattoos, there are some natural industry openings — for example, if you’re reading an clause about Metallica, you might also want to buy a Metallica T-shirt.
At the same time, Abeyta emphasized the importance of authenticity in the publications that Project M acquires, and he said that post-acquisition, they don’t become any more corporate.
” I’m a tattooed, mohawked person loping this company out of my house in Cave Creek, Arizona ,” he said.” We’re the least corporate thing on Planet Earth … Our whole vibe when we partner with these entrepreneurs is, we want to work with the financier and the label .”
So the part Hard time crew, including Saincome, will remain involved. At the same time, the site’s old-time parent firm will continue to own and operate the related gaming and technological sciences site Hard Drive.
Saincome said he’ll too continue guiding OutVoice, a separate startup building freelancer payment tools. In fact, one of the fruits of the batch is that all of Project M’s publications will be using OutVoice.
” My capacity at Hard time is going to be the visionary, brand-builder sort of guy ,” he said. That should free up a good deal of his time and intensity from worrying about day-to-day business concerns, and he promised,” I’m going to take that vigour and gush it back right into OutVoice .”
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