142: The Breakdown of How Gerard Adams Sold EliteDaily.com for $50 million

At 18, Gerard Adams dropped out of college after one semester. That semester was all it took to confirm what Adams knew all along. Like all entrepreneurs, he just wasn't built to follow the rules. The idea of getting a degree, to eventually get a job, to eventually retire, wasn't going to be the life for him. "That's when I made the decision to ... really put the pressure on myself to learn how to build businesses on my own," Adams says. While most people would go out and look for mentors by joining a community of some sort, Adams brought the community to him. In order to pursue his interest in investing and stocks, Adams built an online community for stock traders and investors, growing it to more than 10,000 active voices, and allowing him to learn from the best of the best. From there, he had his share of wins and losses, from getting a job where he helped build a company to 18,000 shareholders, to having the product demonstration fail in a live demonstration. He then built his own marketing agency and started generating hundreds of thousands of dollars, which he then invested heavily into the stock market, only for the 2008 recession to hit. No matter what, though, Adams was always learning. Taking everything that he learned from his experiences, together with his co-founder, Adams built Elite Daily, a news site for millennials, a place where Generation Y could be given a voice to talk about everything from economics to health. Over the next three-and-a-half years, they grew their Wordpress site to a company with more than 200 employees, with 80 million unique visitors to the site per month, and 80 to 100 articles a day. The eventually sold Elite Daily to the Daily Mail for $50 million. That was two years ago, and since then Adams has invested in multiple startups and mentored many young entrepreneurs by sharing his years of experience. In this week's episode you will learn: The blessing and the curse of raising capital and what it means Adams' amazing story of going from college dropout to the voice of a generation What it takes to build a media company that reaches millions How to judge a company through brand equity versus revenue The true cost of being a founder and what it means to be a leader who inspires & so much more! This podcast episode was brought to you by FreshBooks. When it comes to finding the perfect service to help you manage and track your invoices, time, and expenses, you can’t overlook FreshBooks. Designed for small businesses and entrepreneurs who don’t need full-blown, double-entry programming, but still want to keep their finances in check, you can’t go back once you start using it!