When media startups are acquired, it’s often for a few million dollars. Exits like AOL’s $315 million buyout of The Huffington Post are rare.
But Patrick Keane, an investor and media executive, has flipped two companies for hundreds of millions of dollars.
He sold Associated Content for ~$100 million to Yahoo in 2010 and he helped Bleacher Report sell to Turner for more than $210 million.
What’s his recipe for creating exceptionally valuable media brands?
Keane says media startups need to have three boxes checked off. They need to have a mobile strategy, a global strategy and a video strategy. He also says they need tens of millions of monthly unique visitors and strong growth. He thinks having a lot of readers (30 or 40 million uniques) is more important than generating significant revenue.
Edited by Justin Gmoser
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