We now know the truth about Arianna’s Huffington’s haul from the sale of the Huffington Post.
According to leaked documents at The Smoking Gun, Huffington got $US21 million from the sale, with $US3.4 million coming in the form of equity grants.
Huffington Post sold for $US315 million, which means Arianna got ~6.6% of the sale. That’s not a huge chunk of the company, but it’s not tiny. Jack Dorsey only owns 4.9% of Twitter, and he came up with the idea for Twitter.
The Huffington Post sale is pretty old news at this point, but the information in the document is interesting to anyone that follows the industry.
Here are two other details from the documents:
Huffington Post had just $US5 million in cash on its balance sheet at the time of the sale.
Huffington Post was projected to do $US60 million in revenue for 2011, and $US10 million in EBITDA.
It was projected to grow to $US165 million in revenue by 2013, with $US58 million in EBITDA.