When MediaBistro founder Laurel Touby sold her company to Jupitermedia (now WebMediaBrands Inc) in 2007 for $23 million, she pocketed $12 million and set herself up for another $3 million in earnouts. At the same time, Laurel announced plans for a column in Inc. called “Diary of An Earnout.”
Two years later, we never got our column — Laurel wrote just one “How I Did It” article for Inc. — and judging from WebMediaBrands CEO Alan Meckler’s layoffs memo, we’re guessing Laurel never got her earnout.
Here’s Alan’s bit about MediaBistro’s business:
We have witnessed firsthand the huge decline in revenue with the Mediabistro job board numbers. This powerful and vibrant business used to run paid listings for 200 plus jobs a day. Presently the number is significantly lower.
Don’t worry about Laurel though. She’s done just fine after the acquisition. Here’s what she told the New York Times in 2007:
“I had all kinds of illusions about how far the money would go and what I would enjoy, but they’re not true. I thought, ‘O.K., a car and driver and a new apartment and a whole new life.’ In fact, I can only afford two out of three.”