I was a selfish little kid doing my own thing and I was a perfectly good student or whatever, but I didn't know what I wanted to be when I grew up. My dad one day comes to me and goes, "Hey, you know what, I'm an old dude. Go to where the people are and build giant brands that tons of people love and like money always does follow these things. ", He said, "I see something happening. ", And I said: "Yeah, I appreciate that point.
Shontell: All these very different companies. Text is not dead. And so I think literally we loaded it up in my Outbox and then got that kickback note that was, like, "You've sent this to too many recipients." One of them is —. What drives you and how did you get that ambition? We had this idea for Thrillist, which was like a de-facto copycat of DailyCandy but with a guy's tone.
Shontell: So corporate America was never on your radar? We're winning James Beard Awards for our journalism and our feature writing, and telling really interesting and important stories. That was physically hard. Everyone wanted to go to Wall Street, everyone wanted to go to consulting, everyone wanted to go to business school, or everyone wanted to go to law school. When The Dodo launched, it had a classic newsroom structure led by traditionally-trained editors and journalists. Lerer: When DailyCandy sold was the first time we ever picked our head up. Lerer: Well, of course you can be successful without it. Shontell: So you buy this company and it does boost your revenue a bunch, but then eventually you end up spinning it out.
This Dodo was a gift from Izzie Lerer's father, Ken, to commemorate the launch and early success of her first startup. as well as other partner offers and accept our, Alberto E. Rodriguez/Getty Images for Discovery Communications, Former Microsoft CEO and LA Clippers owner Steve Ballmer. Lerer: A newsletter for guys in Manhattan.
Izzie Burleton‘s wealth comes from being a instagram star.
She made a decision to shift her company's focus away TheDodo.com and optimize content so it could live natively on Facebook, Tumblr, Snapchat, Twitter, Instagram, and Pinterest. Lerer: I, admittedly, grew up like a decently spoiled kid, and so I didn't think about my future.
Another pivotal moment for the company came in January 2015, when The Dodo hired its first video producer.
You know, think about the reach that brands have today. In January 2014, Lerer launched her site. All I knew is that DailyCandy was influential with women who I knew, so they would read DailyCandy and they would do the things DailyCandy told them to do and it seemed like there was value in that. They have different management teams.". Shontell: Well, you should never apologize for where you came from, and I think it's a huge testament to you that you've been so ambitious and built such a great career for yourself regardless. "I wanted to do something connected to my research but that also had real world impact," Lerer says. But long before she did her dissertation, she realized she didn't want to become a professor. Earlier this year he huddled with his father, Huffington Post cofounder Ken Lerer, and sister, The Dodo founder Izzie Lerer, to talk about a crazy idea they code-named "Project Family." Your morning cheat sheet to get you caught up on what you need to know in tech. I remember that first year where we put local businesses on the map, legitimately, where we went in and we covered something and it became one of those places where there's a line around the corner and the line doesn't stop and we got a reputation for being good at picking winners and presenting it in a light that was just different.
Net worth of Izzie Burleton: $100,000 - $1M.
Continue to the next page to see Izzie Burleton net worth, estimated salary and earnings. So that was the impetus for Thrillist, and we started it with really pathetically humble beginnings, and the media landscape evolved around us. Your friends want to go and do tech startups suddenly.
You could have just sat back and been like a sloppy college kid forever, but you're not that person and you built this huge media company that you want to become even bigger, so you're working your butt off. My dad has not given me money for my companies, but he's been helpful, and, by the way, where's the line between nepotism and the apple doesn't fall far from the tree?
His success is not what has been helpful for me; he actually helps me. Online estimates of Izzie Naylor’s net worth vary.
She hired an executive to help oversee the project while she completed her PhD, but he didn't pan out. That bet has certainly paid off.". We launched Thrillist. Izzie's brother, Ben, is the co-founder of Thrillist, a website, e-commerce shop, and newsletter dedicated to guys and their interests.
You can listen to the full interview with him on "Success! We could have invested in that.". What was the closest you ever came? I didn't have a vision for what the future of this would look like, and we did an OK job treating every dollar like it was our last and, over what in today's startup world is an unacceptably long period of time, built a brand.
Lerer: Real d-bags. Lerer: It sold for 125 million bucks, to Comcast. For the largest portion of my childhood, he was building a corporate-communications company called Robinson Lerer Montgomery, and then went to work for AOL during the AOL–Time Warner merger.
So we give Henry a little bit of money and then we make eight or 10 investments in a year or so, and then they start to do well. "As far as I see it, there are really three reasons we have been able to grow quickly: Timing, our social-first, distributed content model, and our team," Lerer says. Discovery and CEO David Zaslav went all in investing about $100 million in Group Nine. And so you want to create —. Izzie wasn't always set on being an entrepreneur, but she felt a media company dedicated to her love of animals could both be entertaining and educational. A lot of investors loved the idea, but it was harder to raise money than it should have been.
Her father Ken co-founded The Huffington Post, which was acquired by AOL for $315 million. There are so many times where this is hard and I'm like, "Oh man, I could live an easier life," but it's not actually appealing. We went to Bob's fund and said, "Hey, we're doing this thing. The Dodo currently has six social media editors and twelve writers.
Shontell: So when did you start to shape your vision and realize this could actually be a real, big business? There was a lot of crossover investors, so Axel was in Thrillist and Axel was in NowThis.
And that principle is something that even 11 years later, while the brand has been through a bunch of growth and change, it still comes back to that core proposition around, "Do the things you love better, appreciate the world around you, have fun.". You have your buy-in.
At that time, he said something to me that was really important, that was a big driving factor, where he said, "Look at what's happening in media, look at the changes that are going on.
It'll become an LHV investment and we'll bring in new money and a new CEO and it'll have its own course and it will be a separate thing from us.".
And we said, "What else can we do with them?" I think a website is there because of search and because if you're building brands that answer questions that people might have, you should be there for those people. Shontell: We've talked a lot about where you came from and your dad and how he's been a big influence on your life, and I would say that one of the biggest criticisms that people who are successful who have successful parents get is “success breeds success, and you are successful because you came from privilege.". And so we grew Thrillist really nicely, and then all the while had this idea that there were changes happening in media that were big and exciting. Like, "Good luck putting these things together.
In fact, the leadership of the newsroom is split between one journalist and one social media person. Right, exactly. All Rights Reserved. Lerer: I would guess maybe we had been creating content for somewhere between three and six months.
It's something her brother, parents, and cousins all take credit for. Since the beginning of this year, The Dodo's video views have grown from 0 to 98 million per month.
Like, not you personally, but in general. Ben Lerer, right, with his dad, Ken.
I definitively remember this: It was a year ago, it was during the summer because I remember where I was running. Do you want to invest with us?". Do you guys even need websites or are you just doing distributed? And we got this bug in our head that there was an opportunity to take this hyper-engaged consumer and find ways to monetize them outside of advertising.
He recently, Animal content, Lerer noticed, also happened to be inherently viral. How did that shape you growing up? Shontell: I think when you have successful parents, too, you want to prove that you can do it yourself. It had a consistency, and it had a way of thinking about the world, and an attitude, which was, "Squeeze as much fun and enjoyment out of every day as you can." Advertisers pay higher CPMs (cost per thousand views) for video placements online than for banner ads.
What was that first newsletter you sent?
You know, Facebook is not a social network; Facebook is a mobile-video-distribution platform. Lerer: And so we started investing and that was an amazing vintage of New York companies.
We were like, "Eh, look, it is what it is, let's just put our heads down and grow these two businesses" and a few things happened. The orca was 103 years old — significantly older than most orcas held in captivity. No — I mean, yeah, bros. Civilized bros. And we ended up going to Bob.
Then, when my dad sold HuffPo, he said, "Well, what am I going to do now?" Huge numbers of people are relying on us to come and read about local food and drink, and that's part of being a brand that does everything that your audience could want you to do, but we're a video company.
The next few months were spent tinkering with content and its distribution. Capitalizing on the Internet's love of animal gifs and videos, Lerer founded the Dodo in early 2014. Lerer: Two years ago, OK. That's when we closed.
"This is not deal making for the faint of heart," Lerer told Business Insider's podcast, "Success!
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