Monday, September 15, 2008

Daily Candy Sold for 125 million

This amazes me.

I get most of my information about the hottest things happening in Los Angeles from
Daily Candy. And, it does not cost me a dime! It's the smartest Internet business I have ever seen. I wrote to Daily Candy 2 years ago to see how much it would cost me to advertise Jonesie Cake on their newsletter. In their busiest month? 34,000$!!! It's amazing!

After buying the company in 2003 for what seemed at the time to be the enormous sum of $3 million, making founder Dany Levy a millionaire, Bob Pitman is now flipping for a $122 million profit.
Not bad for a company that employs just 55 people and relies principally on the delivery method of email.

A simple idea, but the best part is they created a branding by hiring Sujean Rim too illustrate the emails.

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