Well Nick Denton, it looks like a blog can be worth a million—or in Daily Candy's case $3.5-$4m!
Yes, I know Daily Candy is an email newsletter but let's be honest here: there is no difference between Daily Candy and Gawker.
So, Nick, I think you owe me sushi or something (I'll wait till you sell Gawker.com and hit you up for Nobu… or better yet, Ginzo). Nice job Dany Levy (below)!
Media mogul Bob Pittman is satisfying his sweet tooth for daily
Pittman, the architect who helped build AOL and MTV into household names, has gobbled up DailyCandy, the trendy Web site featuring tips on everything from restaurants and nightclubs to sample sales and beauty finds.
The plan behind Pittman's investment, say sources familiar with the situation, is to help transform DailyCandy from a Web site into a multimedia player that could extend its brand into magazines and books, stand-alone television shows and perhaps even shopping or restaurant guides.
The Pilot Group, an investment firm founded by former AOL chief Pittman, quietly bought privately held DailyCandy a few weeks ago for roughly $3.5 million to $4 million, sources familiar with the situation told The Post.
1. Daily Candy is brilliant. We are about to launch a similar concept for daily tips that are fun and help save the world through educating consumers on the best way to spend their time or money. Check it out at www.idealbite.com. Cheers, Jen
Posted at 4:20AM on Dec 19th 2005 by Jen