How to make a $551M exit with a newsletter. Bartoolsports with Dave Portnoy. A case study.

How to make a $551M exit with a newsletter. Bartoolsports with Dave Portnoy. A case study.

We have studied and admire Dave Portnoy founder of bartoolsports. A great entrepreneur who loved gambling and set up to build a media empire from a printed paper he started back in 2016. Its an amazing story and shows how any entrepreneur can in fact make it. His determination to push through any boundaries with a solid core team, and great execution can lead to an exit in any industry.

Dave Portnoy whos net worth is now around $150M in 2023. What a great story of determination. Initially starting off going around subways giving a printed version of a newspaper out to random people. Getting his first 20K$ brand deal, and realizing that putting models in the newspaper as cover girls would make it more appealing to the general audience, it quickly grew to a sports and betting giant.

A media empire

His first event had only 5 attendees but quickly grew over the years. He has managed to build a media empire.

He also talks about how his first backer a media mogul, Chernin group, which essentially validated the business believed in his vision to create more than just a newspaper to the Penn Entertainment exit shows with content you can make it.

"'We were good at content but really bad at everything else,' explained Portnoy"

His pizza reviews are also one reason that have made him go viral. A great strategy of finding what can make you famous. Food critic was one of them.

Content creation is key still in 2024 and beyond

If its not obvious to anyone looking to start a business. Content still remains the key to success. Dave was not only selling barstools but also selling himself as an entrepreneur and face of the brand which obviously worked for him.

With the right determination, luck, and momentum anyone can do it.

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