ViralNova, a media start-up similar to Buzzfeed, was recently acquired by digital media company Zealot Network, in a transaction which could be valued at 100 million dollars, as stated by Business Insider.
The start-up was founded by Scott DeLong, 32, who has never had another employee. Initially, he was the only man behind the project, while two more freelanced editors joined the team.
DeLong managed to increase the number of unique visitors to a whooping 100 million per month, without full-time employees or help from private investors.
From AdSense to $100 million
ViralNova‘s only revenue source was AdSense initially, but in less than eight months, the sites started generating a six-figures income, according to the above mentioned source.
Basically, it grew thanks to its stories with user-friendly stories, which were shared like crazy on Facebook. Still, after the social network’s algorithm was changed, the business was affected. But this doesn’t mean that ViralNova wasn’t still in the top.
Scott DeLong launched the website in 2013 and he was totally surprise after seeing how well the project was received. Still, in January 2014, he was overwhelmed by the amount of work he had to put into running its business. Therefore, he started considering selling the business.
Unfortunately, those interested in buying the website weren’t so many, as more people were tempted to invest in ViralNova than acquiring it.
DeLong is still in the game
Finally, DeLong was convinced by Sean Beckner, a New York-based entrepreneur, to keep the site and he ended up buying a part of the company.
Beckner is now the CEO of ViralNova and Scott DeLong is still in the executive council, with way more spare time which he can enjoy. Also, they have a total of 22 employees, including Sara Heddleston, one of the former freelance editors who were working at the website, occupying the managing editor position.