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Unwell Secures $500M Valuation With Whitesell Backing
business14 days ago

Unwell Secures $500M Valuation With Whitesell Backing

Unwell, the media company co-founded by Alex Cooper and Matt Kaplan, has been valued at $500 million after Patrick Whitesell’s firm WTSL made its first outside investment, linking the growing platform to Whitesell’s industry network and strategic guidance. The company, which has built a large, predominantly female audience across a podcast network of more than a dozen shows and roughly 100 million followers, is expanding into video on YouTube and maintains a SiriusXM partnership from last year. With Whitesell’s backing, Unwell plans to accelerate growth through acquisitions and investments.

via Deadline|
#alex-cooper#business#investments
Trump's Wealth Soars with Media Stock Surge Post-Election Victory
business1 year ago

Trump's Wealth Soars with Media Stock Surge Post-Election Victory

Donald Trump's social media company, Trump Media & Technology Group, saw its stock value soar by 35% in premarket trading after his projected election victory, increasing its market value to about $9 billion. Trump, the dominant shareholder, saw his shares rise in value from $3.9 billion to $5.3 billion. Despite the company's limited revenue and losses, the stock's surge is attributed to traders betting on Trump's win and a potential short squeeze. The company's valuation now exceeds that of major brands like Macy's and JetBlue, despite its modest revenue.

via CNN|
#business#donald-trump#election
Diddy Sells Entire Stake in Revolt Amid Allegations, Employees Take Over
entertainment2 years ago

Diddy Sells Entire Stake in Revolt Amid Allegations, Employees Take Over

Sean "Diddy" Combs has sold his stake in Revolt, the media company he founded, amid ongoing sexual assault allegations. The company announced a new ownership structure that includes employee equity stakes. This move follows several lawsuits, including one from R&B singer Cassie, accusing Combs of abuse and rape, which he settled shortly after it was filed.

via KOMO News|
#diddy#entertainment#lawsuit
Sean Combs Sells Revolt Stake to Employees Amid Legal Battles
businessentertainment2 years ago

Sean Combs Sells Revolt Stake to Employees Amid Legal Battles

Sean Combs has sold his majority stake in Revolt, the media company he founded, amid mounting sexual assault allegations. Revolt announced that Combs' shares have been fully redeemed and retired, and the company will remain Black-owned and operated. This move comes after Combs faced multiple lawsuits and a federal investigation, with recent developments including a video apology for past abusive behavior.

via NBC News|
#business-sale#businessentertainment#media-company
Sean Combs Sells Majority Stake in Revolt to Employees
music2 years ago

Sean Combs Sells Majority Stake in Revolt to Employees

Sean Combs has sold his majority stake in Revolt, the media company he founded, amid mounting legal scrutiny over allegations of sexual and physical abuse. The largest shareholder group at Revolt is now made up of employees. This move follows a series of lawsuits filed against Combs, including one from his former girlfriend, Cassie, which has significantly impacted his business empire.

via The New York Times|
#business-sale#media-company#music
crime2 years ago

Media CFO Charged in $67M Fraud Scheme

The CFO of a multinational media company, Weidong Guan, has been charged with laundering approximately $67 million in fraud proceeds, including unemployment insurance benefits, through a complex transnational scheme involving cryptocurrency. Guan allegedly lied to banks about the source of the funds, claiming they were donations. He faces up to 80 years in prison if convicted.

via Department of Justice|
#crime#cryptocurrency#fraud
"Dude Perfect Secures $100M-Plus Investment for Business Expansion"
business2 years ago

"Dude Perfect Secures $100M-Plus Investment for Business Expansion"

YouTube influencer group Dude Perfect has secured a $100 million-plus investment from Highmount Capital as they aim to expand into a larger media company. The group, known for sports stunts and comedy, has grown from a YouTube channel started by five roommates at Texas A&M University to one of the platform's most popular channels with over 60 million subscribers. The investment will support their expansion into retail, live performances, and a planned theme park, reflecting the increasing influence and revenue potential of online content creators.

via Fox Business|
#business#dude-perfect#influencers
Trump's Media Company Faces Volatile Stock Performance, Losing Billions in Value
business2 years ago

Trump's Media Company Faces Volatile Stock Performance, Losing Billions in Value

Donald Trump's media and technology group, DJT, has lost about 36% of its value since going public, dropping the former president’s stake to approximately $2.8bn. The stock has become one of the most actively shorted on the Nasdaq exchange, and the company generates minimal revenue and no profit. Trump is under a lockup agreement requiring him to wait until September to sell his shares, and the company and some of its executives are facing legal claims. Despite this, Trump maintains confidence in DJT's Truth Social platform, while the company's CEO, Devin Nunes, expressed optimism about its future.

via The Guardian US|
#business#djt#donald-trump
"Trump Media Company's Stock Plunge Wipes Out Billions in Value"
business2 years ago

"Trump Media Company's Stock Plunge Wipes Out Billions in Value"

Shares of Donald Trump's media and technology firm, Truth Social, fell 12% on Monday, extending a selloff that has reduced the value of his stake to $2.9 billion. The company's stock closed 8.4% lower at $37.17, down about 40% in April, following disclosures of significant losses and financial struggles. Trump, who owns about 78.75 million shares, has seen the valuation of his stake drop sharply from around $6 billion last month, potentially impacting his ability to raise funds for his 2024 presidential campaign and legal expenses. Short-sellers have made about $16 million in market-to-market profits from the decline, despite still being down 69% for the year.

via Yahoo Finance|
#business#donald-trump#financial-struggles
"Trump Media Company's Stock Plunge Wipes Out Billions in Value"
business2 years ago

"Trump Media Company's Stock Plunge Wipes Out Billions in Value"

Shares of Donald Trump's media and technology firm, Truth Social, fell 12% on Monday, extending a selloff that has reduced the value of his stake to $2.9 billion. The company's stock closed 8.4% lower at $37.17, down about 40% in April, following disclosures of significant losses and financial struggles. Trump, who owns about 78.75 million shares, has seen the valuation of his stake slide sharply from around $6 billion last month, potentially impacting his ability to raise funds for his 2024 presidential campaign and legal expenses. Short-sellers have welcomed the declines, making about $16 million in market-to-market profits, despite still being down 69% for the year.

via Yahoo Finance|
#business#donald-trump#financial-struggles
"Trump Media Company's Stock Plunge Wipes Out Billions in Value"
business2 years ago

"Trump Media Company's Stock Plunge Wipes Out Billions in Value"

Shares of Donald Trump's media and technology firm, Truth Social, fell 12% on Monday, extending a selloff that has reduced the value of his stake in the company to $2.9 billion. The company's stock closed 8.4% lower at $37.17, down about 40% so far in April, following the disclosure of millions of dollars in losses and financial struggles. Trump, who owns about 78.75 million shares, has seen a sharp slide in the valuation of his stake from around $6 billion last month, with the market value of the company now below that figure at about $5.55 billion. Short-sellers have made about $16 million in market-to-market profits, despite being down 69% for the year.

via Reuters|
#business#donald-trump#financial-struggles