You know the story - one of my best friends Dan and I started a little online marketing firm called Webstakes in 1996. The company later changed it's name to Promotions.com. We grew the company from $0 - $27 million in revenue in only four years and raised approximately $46 million of angel, strategic and venture capital along the way. We took the company public in 1999 and in sold it to iVillage in 2002 (when iVillage was trading at $2 per share)
NBC was one of our investors and also one of our largest clients.
Today, NBC announced it was buying iVillage for $600 million (which is $8.50 per share)
It's kind of neat for this to come full circle - I even got emails today from a few of my investors who were still holding some iVillage stock from our sale to them 3 years ago. They thanked me for the quadruple in value they received since our transaction - the NBC deal at $8.50 per share is a 4x increase from the $2 iVillage was trading at when we did our transaction.
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About Me
- I'm co-founder and CEO of OrganizedWisdom..
I'm an entrepreneur and have been involved with building technology and media companies for more than a decade. To read my complete profile, click here.
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