CoinDesk, a crypto news site, sold for $125 million despite generating $50 million in revenue and 7.4 million monthly visits. The speaker questions if the price is justified given the platform remains unprofitable.
CoinDesk is being sold for $125 million. Now, for those of you that don't remember, CoinDesk is a media platform in the crypto space. It basically is a news aggregator that writes about crypto. Interesting timing for this sale, it's the bottom of the crypto market. Now, according to reports, CoinDesk did about $50 million in top-line revenue last year, but is for sale for $125 million. Now, you may ask yourself, what kind of traffic does CoinDesk get? Well, according to SimilarWeb, about 7.4 million visits a month still, which is pretty impressive considering where we are at in the crypto space. Just like any good blog or media platform, it's not just the blog and not just the website. There are 9 newsletters that come along with the sale of this business. So with 9 newsletters, 7.5 million visitors a month, and about $50 million in top-line revenue unprofitably, maybe $125 million is a little bit too much for this business. What do you guys think? Let me know in the comments.
You wont believe what else the founder started #opensea #mergersandacquisitions #venturecapital
