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Tech and business news organization, Quartz, is moving across the pond after being bought by a Tokyo-based media company. The Hustle Tues, Jul 3 Brought to you by quip… better teeth by design. Heads up: We're taking a break from...
By: Wes Schlagenhauf
July 3, 2018
Tech and business news organization, Quartz, is moving across the pond after being bought by a Tokyo-based media company.
Heads up: We're taking a break from our scheduled programming tomorrow to shoot off fireworks. Cross your fingers we don't blow ours off. See you back here on the 5th.
Tokyo-based media company buys Quartz from the Atlantic for as much as $110m
Fellow online business and tech news-slinger, Quartz, is moving out of Mom’s house over at the Atlantic to see if they can make something of themselves out in this big ol’ world.
Their new home: publicly listed Japanese financial intelligence and media firm, Uzabase.
The deal, according to, well, Quartz, is expected to close within a month and will pay between $75m and $110m, depending on the native-ad-savvy news org’s financial performance the rest of this year.
All about that Uza-expansion
Founded in 2008 by two former UBS investment bankers and a technology consultant, Uzabase is one of Asia’s largest information databases and news services.
As the company looks to seek growth outside of Asia, Quartz will help build NewsPicks USA (Uzabase’s operating app) into an English-language newsfeed, strengthening their presence in the US.
So what does this mean for the Atlantic?
Atlantic Media launched Quartz in 2012 as a newswire for young professionals within the organization, and Quartz has grown into what some call “The Economist of the digital era.”
The deal furthers Atlantic Media chairman and owner David Bradley’s plan to divest his family’s ownership of the organization’s assets, after realizing his sons weren’t interested in taking on the family biz.
Last year, he sold a majority share of the Atlantic to Laurene Powell Jobs’ Emerson Collective.
This is a financial win for Quartz
Lately, high-profile media acquisitions have been less than favorable (like Mashable, which sold for a fraction of its $250m valuation in 2016).
Quartz, which has 215 employees and reached 12m US readers in May, has managed to do what many large media companies have not -- hit their revenue targets.
In 2016, the company turned a profit earning more than $1m on over $30m in revenue, and is currently on pace to increase revenue by as much as 35% this year.
Never miss a deadline… or a projection
In India, Eros keeps Netflix at bay with many movies and even more movie-watchers
While Netflix and other foreign movie production companies try to slide into India’s film market, Eros International (the country’s largest movie production company) has amassed more local content than Amazon and Netflix combined.
The darling of cinema’s capital city
India’s movie production industry is the largest in the world (the US is 3rd, behind Nigeria) -- and with 11k videos on-demand, Eros is the biggest fish in the biggest pond.
Eros debuted ‘Eros Now’ in 2004, which now offers cross-device streaming. But, while the 40-year-old company has outpaced foreign rivals in India, Eros is butting heads with America’s mega-studios as it expands into global markets.
The war of volume vs. value
Eros’ global subscriber base (100m) is just shy of Netflix’s (117m), and Eros is available in 135 countries compared to Netflix’s 190.
But despite comparable subscriber bases, the two play in different financial leagues. This year, Eros plans to spend $50m on original content for Eros Now -- Netlfix, on the other hand, will spend roughly $8B.
To maintain its lead on Netflix, Eros plans to monetize more of its users (90% of whom use a free version of the company’s app) and double their paid subscribers from 8m to 16m by March 2019.
After a 5-year private reboot, Dell is coming back to the public market
Dell is returning to the public market after a 5-year stint as a private company to diversify beyond its primary revenue stream (computer hardware).
Dell wanted some privacy for its makeover
Michael Dell built the company he started in his dorm room into the world’s largest computer-maker by the mid-2000’s. But, by 2013, Dell had slipped behind HP and Lenovo. Unhappy with bronze, Dell decided to take the company private for $25B.
Outside of public market scrutiny, Dell revamped its non-hardware offerings, buying data storage company EMC Corp for $67B in 2016.
To finance the historic acquisition, Dell issued a tracking stock (a stock issued by a parent company to mirror, or “track,” a smaller subsidiary while the original company undergoes a facelift) for its subsidiary, VMware.
Now, Dell’s ditching the training wheels
Over 5 years, Dell succeeded in diversifying its software offerings to become a one-stop computing shop for businesses. But in doing so, it racked it up $52.7B in debt as of last quarter.
To make up for the cash shortfall, Dell had to return to public markets. They bought their own tracking stock for $21.7B -- allowing for tight control and outside investment -- and now, Dell and VMware will operate more independently.
I recently met a guy at a networking event, and he asked me out to drinks to talk about “life and business.” He’s someone I’d like to have in my professional network, but I have a feeling this might be a date, not a professional thing…
Is it a bad idea to get drinks? How do I figure out his intentions? If they are romantic, how do I keep things professional without ruining the relationship?
Ah, the classic, “Is this business or pleasure?” networking dance.
First of all, trust your gut: If you have a feeling this is more than just ‘networking’, it probably is (maybe he’s still figuring out where he stands, too).
It’s perfectly fine to get drinks -- just be sure to set expectations up front. Aim to meet up during happy hour and pick a specific topic ahead of time (ex: “Would love to grab drinks and talk user acquisition”). If he is interested in networking, it’ll make the conversation more productive for both of you.
If you do meet and the conversation strays into “romantic territory,” don’t be afraid to respond in real-time and politely let him know, “I’m flattered, but I’d really like to keep things professional.”
You’re both adults, and you can let him know you’d like to keep your relationship buttoned-up without being rude or reactionary.
The way he responds will tell you whether he's someone you want to work/associate with professionally -- and, of course, if you feel uncomfortable, you reserve the right to walk away.
-- Lindsey Quinn, Managing Editor of The Hustle (@LimbsySquid)
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