Kudos to Brian and Jason
I’ve known Jason Calacanis since early 1996 and have watched him build a number of businesses only to come up mostly empty.
Jason is controversial, scrappy, and not universally loved to say it nicely. But I have always been impressed with two things about Jason; his intensity and his instincts. They are both essential traits of the successful entrepreneur.
Engadget alone is a juggernaut.
If you add Autoblog, Blogging Baby, etc, you get a mini empire and that is what AOL bought.
The rumored prices are anywhere from $20mm to $35mm with a very healthy earnout component, which is fair and smart on AOL’s part.
I wrote a blog post back in June where I said that Weblogs Inc and the other major player in this blogging network model, Gawker, were going to be very valuable properties pretty soon.
$30mm isn’t close to the $410mm that New York Times paid for About.com, but Weblogs does’t have About’s reach or revenues. But its getting there and the rumored price of $30mm is recognition of the kind of value these lightweight adsense supported businesses can create.
Well done guys!