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Cheddar buys Rate My Professors as it looks to cheese up its college-based network CheddarU. The Hustle Sponsored by The ol’ college try: Cheddar buys Rate My Professors, doubling down on students Cheddar, the streaming news network that has somehow...
By: Wes Schlagenhauf
October 26, 2018
Cheddar buys Rate My Professors as it looks to cheese up its college-based network CheddarU.
The ol’ college try: Cheddar buys Rate My Professors, doubling down on students
Cheddar, the streaming news network that has somehow earned the even-cheesier moniker “CNBC for millennials,” bought Rate My Professors, a platform to rate college professors.
For Cheddar, which bills itself as a “post-cable network,” the purchase is part of a plan to attract students and young viewers to its brand.
Cheddar goes back to school
After raising $22m in March, the Cheesy Channel acquired MTV Networks on Campus from its parent company, Viacom (which also owned Rate My Professor).
In a fit of inspired creativity, Cheddar partnered with 600 US colleges, and rebranded MTV’s college video distribution network, MTVU, as (drumroll, please…) CheddarU.
Now, Cheddar hopes to incorporate Rate My Professors (which receives 125k monthly submissions from its 6m users) into its CheddarU network, so students can bash their professors on the same platform they get only the sharpest of cheese content from.
Things are grate at Cheddar...
But they could always be better. In July, Cheddar forecast $25m in 2018 revenue: But after the Professor announcement, CEO Jon Steinberg updated the estimate to $30m (last year the company did $11.3m).
Since Cheddar doesn’t make money from advertising, it relies on revenue from subscriptions on its paid channel and carrier agreements with distributors of its free content -- making a wide distribution network vitally important.
“Everyone loves Cheddar... right?!”
In just the past year, the company has partnered with Twitch, Youtube TV, Hulu, and Snapchat to distribute its content.
To expand the Cheddar-verse even further, the company also added a general news channel (an addition to its original business brand) and launched a European division.
So far, Cheddar’s aggressive partnerships are paying the bills. But since Cheddar’s partner-based business model is built on the strength of its brand, the company better hope its viewers (60% of whom were under 35, even before its college push) don’t lose their taste for the cheeeeeze.
This Cheddar be good
Tiger Global has been quietly making loud investments, and it’s starting to pay off
If you’re starting a high-risk, high-reward company, then 17-year-old hedge fund Tiger Global may have just what the doctor ordered.
Yesterday, the investment firm lived up to its “fund from the wrong side of the tracks” rep when it raised $50m for a cannabis-tracking company called Metrc (co-led by Snoop Dogg’s venture firm Casa Verde Capital).
Eye of the Tiger
The New York-based company has made a killing betting on high-risk industries. In the past it has invested $600m in Juul, and it’s currently plotting a $500m investment in Coinbase -- but TG’s favorite gamble is the budding weed industry.
In April, TG raised one of the largest funding rounds for a cannabis tech company ever, putting $17m into Green Bits. On Monday, it helped raise $20m for the weed vaping startup Pax.
Now, they have $3B to give your company
As it keeps pumping cash into new companies, its past venture-related startup investments are starting to pay off, meaning Tiger can now make way for some bigger funds -- perhaps even a mega-fund.
You read that right: We said mega-fund. In fact, last week Tiger closed the 2nd biggest venture fund of 2018 ($3.75B) after only 6 weeks of active marketing -- making it one of the largest venture funds in the world.
Since there is no alternative, millions of people depend on insulin. But high prices are pricing out customers, leaving many to fear they may not have it when they really need it.
Unfortunately, the medication in the scorpion death grip of the 3 companies that hold the market, and they are the only ones with the power to lower the prices.
Ladies and gentlemen, meet the Mosquitos of Wall Street
Eli Lilly, Novo Nordisk, and Sanofi control almost the entire $22B insulin market. Novo’s per-vial list prices top $289, while Sanofi rounds out the bottom at $270.
People with insurance don’t pay full price out of pocket, but uninsured patients or people with high premiums (whose lives also depend on it, mind you) definitely feel the rash of the exorbitant pricing.
So they blame the insurance companies
Which is valid, since the middlemen take advantage of the insulin market through shady rebates. But that in no way means the drug companies’ hands are tied.
According to Axios, the price of the drug is propped up by “patent thickets” created by manufacturers who want to cash in on the high prices.
For now, companies like Novo Nordisk maintain that “affordability remains top of mind.” Sooooo, the notion is there, they’re thinking about it, but… what’s a lowly drug-manufacturing giant to do?
Across the globe, we can’t seem to agree on who self-driving cars should save in crashes
Self-driving cars promise to reduce the 40k+ car-crash deaths that occur every year in the US, but some deadly crashes will remain unavoidable: So when disaster strikes, how does a car choose who lives and dies?
Plenty of the brainy engineers have been asking that question -- but, as a recent paper shows, they can’t agree on the answer.
Turns out, people across the globe can’t even decide whether cars should save babies or grandmas, not to mention passengers or pedestrians.
Autonomous auto ethics: Results may vary
MIT researchers asked 2.3m people from different cultures about the importance of several variables (young vs. old, rich vs. poor, law-abiding vs. jaywalking) in fatal crashes, and discovered ethics vary by country.
Respondents from individualistic cultures (France, US, UK) saved young people, while collectivists (China, Japan) chose old people. Citizens living under strong institutions (Finland, Japan) chose to hit jaywalkers more often than those with weak institutions (Nigeria, Pakistan).
Other results were harder to explain. Chinese respondents strongly chose passengers over pedestrians, while Japanese chose the exact opposite -- posing challenges to auto-automakers trying to create consistent codes.
The pedestrian paradox
A few results are black and white: All cultures agree on prioritizing people over animals, and some suggestions -- like saving rich people over poor people, as some respondents preferred -- simply aren’t options.
Carmakers must decide whether to design and market cars differently based on the market’s expectations -- selling passenger-prioritizing cars in China and pedestrian-prioritizing cars in Japan.
Gone are the days of endless dusty cubicles, drab concrete walls, and that one break room vending machine with honey buns from June ‘98.
Today’s companies need to offer more than the bare minimum to keep their hardworking teams happy.
That means inspiring, beautiful, squeaky-clean workplaces paired with efficient management. And that means checking out Managed by Q.
Your team gets an office they love, you get to save 40% doing it
Managed by Q helps companies design, build, staff, and manage their workplaces by connecting you with the top commercial service providers.
In office terms: It’s the easy way to give your employees what they need to do their best work.
That includes never running out of supplies, building Jane’s new standing desk, and painting the creative department’s walls a rosy shade of salmon -- it’s en vogue, people. Whatever the job is, Managed by Q is your go-to-one-stop-shop.
Companies like Casper, SeatGeek, Vox, Staples, and others are already saving their teams tons of time each week -- and more moolah than ever on the cost of facilities services.