ViralNova, a Buzzfeed-like media startup run by Scott DeLong, has been acquired by digital-media company Zealot Networks in a cash and stock deal that could be worth as much as $100 million if Zealot appreciates in value.
DeLong and his website have an interesting backstory.
DeLong and two freelance writers. Together they were able to grow their website to Buzzfeed's size and scale — about 100 million monthly readers — without having any full-time staff or raising any money from outside investors.
The 32-year-old Ohio native had built websites before and sold them, but he had never been a full-fledged CEO. His first successful online business was a website for Halo 2 enthusiasts that generated $500 a month from Google ads. DeLong launched it in his early 20s, shortly after he graduated from Kent State University.
"That opened my eyes," recalled DeLong. "I thought, if I can make $500 a month, I can make $5,000 a month. There’s no limit; the internet is huge.
One of DeLong's freelance writers, Sara Heddleston, became ViralNova's managing editor and hired a dozen writers. A direct-ad-sales team was also hired to better monetize ViralNova's 100 million+ monthly pageviews.
Today ViralNova has 22 full-time employees and it is on track to generate $35 million this year. The company will likely move to Zealot Media's Venice, California, headquarters.
Read more: http://www.businessinsider.com/zealot-media-buys-scott-delongs-viralnova-for-100-million-2015-7#ixzz3fSmGuWZY
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