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		<title>OpenSky Raises $30 Million for Twitter-Inspired Shopping Site</title>
		<link>http://allthingsd.com/20111024/opensky-raises-30-million-for-twitter-inspired-shopping-site/</link>
		<comments>http://allthingsd.com/20111024/opensky-raises-30-million-for-twitter-inspired-shopping-site/#comments</comments>
		<pubDate>Mon, 24 Oct 2011 12:59:19 +0000</pubDate>
		<dc:creator>Tricia Duryee</dc:creator>
				<category><![CDATA[Commerce]]></category>
		<category><![CDATA[News]]></category>
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		<category><![CDATA[About.com]]></category>
		<category><![CDATA[Bobby Flay]]></category>
		<category><![CDATA[Canaan Partners]]></category>
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		<category><![CDATA[Gabrielle Bernstein]]></category>
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		<guid isPermaLink="false">http://allthingsd.com/?p=135964</guid>
		<description><![CDATA[OpenSky is e-commerce with a Twitter twist: Follow celebrities and experts to get recommendations on the latest food, fashion, design and style.]]></description>
			<content:encoded><![CDATA[<p><img class="alignright size-medium wp-image-135972" title="openskylogo" src="http://allthingsd.com/files/2011/10/openskylogo-285x285.png" alt="" width="285" height="285" />The founder and CEO of OpenSky, John Caplan, says the curated shopping site has more in common with Twitter than with eBay or Amazon.</p>
<p>On the site, shoppers add &#8212; or &#8220;follow&#8221; &#8212; celebrities and experts who share similar interests, to receive recommendations on the latest food, fashion, design and style.</p>
<p>In that way, OpenSky pushes product ideas to shoppers, somewhat in the way Twitter lets people discover information versus having to search for an answer on Google.</p>
<p>Caplan told me OpenSky has raised $30 million in fresh capital to continue building out the business.</p>
<p>The New York-based company, with offices in Los Angeles and Nashville, is only six months old and previously raised $19 million in two prior rounds.</p>
<p>New investor Providence Equity Partners led the financing. Existing investors Highland Capital Partners, Canaan Partners and the Raine Group also participated.</p>
<p><img class="alignright size-medium wp-image-135970" title="opensky_screenshot bobby flay" src="http://allthingsd.com/files/2011/10/opensky_screenshot-bobby-flay-341x285.png" alt="" width="341" height="285" /></p>
<p>Some of the company&#8217;s talent includes celebrity chefs such as Bobby Flay and Italian food expert Lidia Bastianich, and pop culture figures like actress and reality TV star Kristin Cavallari, who will advise customers on the latest fashions.</p>
<p>In a recent offering, Flay, who has 164,626 followers, advised shoppers to purchase a spice bundle for $23. Fitness guru and motivation speaker Gabrielle Bernstein recommended a collapsible Hula-Hoop that&#8217;s easy to travel with.</p>
<p>Caplan said it&#8217;s an approach that&#8217;s really resonating with shoppers, particularly women in their 30s.</p>
<p>He said the company will break $1 million in sales this month and is on track for a $10 million run rate. Both order volume and revenues are growing 50 percent month over month.</p>
<p>The company already has 600,000 members signed up; they are now connecting to millions of shopping &#8220;experts.&#8221; It took the first 14 weeks for OpenSky to hit one million connections, 10 weeks to get its second million and three weeks to reach its third million. Customers are spending $50 on the average transaction, which is more than double Amazon&#8217;s average order of $22, Caplan said.</p>
<p><img class="alignleft size-medium wp-image-135971" title="openskyJohn_2011Headshot2" src="http://allthingsd.com/files/2011/10/openskyJohn_2011Headshot2-380x252.png" alt="" width="380" height="252" /></p>
<p>&#8220;This feels like such a modern way to shop, compared to the search box,&#8221; Caplan said. &#8220;There&#8217;s not a lot of soul in online shopping. We are putting the soul back into shopping.&#8221;</p>
<p>He added that walking into actual stores is engaging and entertaining. &#8220;I think Amazon is a fantastic company, and they have a lot of things they do really brilliantly, but I don&#8217;t think it&#8217;s the best way to shop.&#8221;</p>
<p>Many companies right now are challenging the original e-commerce model, and for good reason. Kleiner Perkins partner Mary Meeker noted <a href="http://www.scribd.com/fullscreen/69309864">in a report last week</a> that e-commerce makes up 8 percent of overall commerce in the U.S. today, and continues to climb.</p>
<p>Caplan said the capital will be used to add more shopping verticals and experts to the site. Today, it has 75, with hundreds more coming.</p>
<p>As the former president of About.com, which relied on a distributed workforce to contribute answers to the site, Caplan believes he knows exactly how to get the business to click.</p>
<p>To make money, OpenSky is splitting the gross profit from the items sold with the experts on the site. It&#8217;s free to join as a member, and there&#8217;s a 90-day money-back guarantee. So far, it has experienced a 1 percent return rate.</p>
<p>&#8220;I personally love businesses where you partner with talent and create talent,&#8221; he said.</p>
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		<title>Time Inc.&#039;s InStyle Sets Up Shop at StyleFind</title>
		<link>http://allthingsd.com/20101130/time-inc-s-instyle-sets-up-shop-at-stylefind/</link>
		<comments>http://allthingsd.com/20101130/time-inc-s-instyle-sets-up-shop-at-stylefind/#comments</comments>
		<pubDate>Tue, 30 Nov 2010 11:08:32 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
				<category><![CDATA[Commerce]]></category>
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		<guid isPermaLink="false">http://mediamemo.allthingsd.com/?p=26432</guid>
		<description><![CDATA[Remember when magazines were excited about launching Web sites, not iPad apps? Here's a new e-commerce site from Time Warner's publishing unit.]]></description>
			<content:encoded><![CDATA[<p><a href="http://mediamemo.allthingsd.com/files/2010/11/StyleFind-Home-Page.png"><img class="alignright size-medium wp-image-26434" title="StyleFind Home Page" src="http://mediamemo.allthingsd.com/files/2010/11/StyleFind-Home-Page-263x300.png" alt="" width="263" height="300" /></a>Remember when magazines were excited about launching Web sites, not iPad apps?</p>
<p>Here&#8217;s a reminder of what that was like: Meet <a href="http://www.stylefind.com/">StyleFind.com</a>, which is supposed to be live Tuesday morning. It&#8217;s a new shopping site from Time Inc.&#8217;s <a href="http://www.instyle.com/instyle/">InStyle</a> magazine, and you&#8217;ll figure it out as soon as you see it.</p>
<p>In case you don&#8217;t: The site helps shoppers pick through some 2,000 brands, from 150 retailers, and eventually sends them off to partner sites, which handle the actual purchase and fulfillment. InStyle will get affiliate fees for forwarding on customers, giving the title another revenue stream to complement circulation and advertising.</p>
<p>StyleFind sports the requisite Twitter and Facebook buttons, but this isn&#8217;t one of the <a href="http://mediamemo.allthingsd.com/20101122/svpply-is-a-social-shopping-site-with-a-funny-name-good-buzz-and-a-new-funding-round/">new breed of social shopping sites</a> that have cropped up in the past year, like <a href="http://svpply.com/">Svpply</a>.</p>
<p>Instead, StyleFind assumes that shoppers are interested in the sense and sensibility that InStyle exudes, translated here by a small team of dedicated editors who pick out clothes and accessories.</p>
<p>Pretty straightforward stuff, and you can find versions of it elsewhere on the Web, and from other publishers as well. The major difference here is that Time Inc. built and operates the site itself, based on technology it acquired when it bought Boston-based <a href="http://www.stylefeeder.com/">StyleFeeder</a> nearly a year ago for a price reported as &#8220;<a href="http://online.wsj.com/article/SB10001424052748703626604575011191771805782.html">well into eight figures</a>.&#8221;</p>
<p>Following that deal, Time Warner&#8217;s publishing unit then hired Bluefly vet <a href="http://www.linkedin.com/profile/view?id=192596&amp;authType=name&amp;authToken=yfQ0&amp;locale=en_US&amp;pvs=pp&amp;pohelp=&amp;trk=ppro_viewmore">John Carles</a> to head up e-commerce for its Style group. Assuming Stylefind pans out, Carles will be able to use the same model for other titles, including People and even Entertainment Weekly, the publisher says.</p>
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		<title>A Fashion Shopping Site, Google Style</title>
		<link>http://allthingsd.com/20101117/a-fashion-shopping-site-google-style/</link>
		<comments>http://allthingsd.com/20101117/a-fashion-shopping-site-google-style/#comments</comments>
		<pubDate>Wed, 17 Nov 2010 18:46:08 +0000</pubDate>
		<dc:creator>Voices</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Voices]]></category>
		<category><![CDATA[Boutiques.com]]></category>
		<category><![CDATA[digital]]></category>
		<category><![CDATA[fashion]]></category>
		<category><![CDATA[frontpage]]></category>
		<category><![CDATA[Google]]></category>
		<category><![CDATA[innovation]]></category>
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		<category><![CDATA[newsbyte]]></category>
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		<category><![CDATA[Visual Search]]></category>

		<guid isPermaLink="false">http://voices.allthingsd.com/?p=32715</guid>
		<description><![CDATA[Judging by its new entry in the women's fashion department, Boutiques.com, Google's personal style is Mix 'N' Match Eclectic. The site blends computer geekery (visual search and algorithmic recommendations) with fashion geekery (collections curated by taste-makers) and accessorizes the outfit with social features (create your own boutique and follow others).]]></description>
			<content:encoded><![CDATA[<p>Judging by its new entry in the women&#8217;s fashion department, <a href="http://www.boutiques.com/">Boutiques.com</a>, Google&#8217;s personal style is <a href="http://googleblog.blogspot.com/2010/11/introducing-boutiques-new-way-to-shop.html">Mix &#8216;N&#8217; Match Eclectic</a>. The site blends computer geekery (visual search and algorithmic recommendations) with fashion geekery (collections curated by taste-makers) and accessorizes the outfit with social features (create your own boutique and follow others).</p>
]]></content:encoded>
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		<title>Huffington Post Still Growing Like a Weed</title>
		<link>http://allthingsd.com/20100304/huffington-post-still-growing-like-a-weed/</link>
		<comments>http://allthingsd.com/20100304/huffington-post-still-growing-like-a-weed/#comments</comments>
		<pubDate>Thu, 04 Mar 2010 13:16:23 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
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		<guid isPermaLink="false">http://mediamemo.allthingsd.com/?p=16978</guid>
		<description><![CDATA[Another step in the Huffington Post's relentless march toward world domination: The company served a staggering 40 million visitors in the last month.]]></description>
			<content:encoded><![CDATA[<p><a href="http://mediamemo.allthingsd.com/files//2008/11/arianna.jpg"><img class="alignright size-medium wp-image-1338" title="arianna" src="http://mediamemo.allthingsd.com/files//2008/11/arianna-230x300.jpg" alt="" width="153" height="200" /></a>Another step in the Huffington Post&#8217;s relentless march toward world domination: The company attracted a staggering <a href="http://twitter.com/peretti/status/9844886689">40 million unique visitors</a> in the last month.</p>
<p>That&#8217;s per Huffpo&#8217;s own numbers, served up by Google Analytics (GOOG). And as usual, outside auditors provide a different number. ComScore&#8217;s (SCOR) January numbers put the site at 26.4 million unique visitors (see breakdown at bottom of this post).</p>
<p>But no matter how you count it, there&#8217;s now a really, really big audience for a site the smart set derided as a vanity project for Arianna Huffington when it launched in 2005.</p>
<p>You may also recall predictions that Huffpo would wither after the 2008 elections, but that hasn&#8217;t happened either. So what&#8217;s driving the growth?</p>
<p>Verticals, says Huffington&#8211;the mini-Huffpos the site has been pumping out on a regular basis. The site&#8217;s <a href="http://www.huffingtonpost.com/technology/">technology</a> and <a href="http://www.huffingtonpost.com/sports/">sports</a> sections, for instance, didn&#8217;t exist six months ago. Now they account for 10 percent of Huffpo&#8217;s traffic, she says. (Did you know ultimate fighter <a href="http://www.huffingtonpost.com/2010/03/03/chuck-liddell-nude-exerci_n_483657.html">Chuck Liddell has a nude workout tape</a>?)</p>
<p>Other big hits: Comedy (up 58 percent in the last six months), style (37 percent), entertainment (25 percent).</p>
<p>Huffington was less boastful about the site&#8217;s attempts to roll out local sections. That started with Chicago in August 2008, and now includes Denver, Los Angeles and New York. </p>
<p>But she&#8217;s not sure where that will go next: &#8220;This year [we] have prioritized launching other sections, which has been a great decision,&#8221; she says. It&#8217;s possible that Huffpo will launch more local sites, or it may partner with other sites instead.</p>
<p>Huffington&#8217;s competitors and/or detractors would also want to point to the site&#8217;s team of technology wizards, which allow it to extract the maximum value out of a relatively small (100 full-time employees) staff. Huffpo has mastered the art of turning other people&#8217;s work into its own stories and eyeballs.</p>
<p>But eyeballs are eyeballs. Next up: Turning them  into dollars. That&#8217;s up to sales boss <a href="http://mediamemo.allthingsd.com/20100105/huffpo-needs-ad-dollars-can-yahoo-sales-vets-deliver/">Greg Coleman and his brigade of Yahoo (YHOO) veterans</a>.</p>
<p><a rel="lightbox" href="http://mediamemo.allthingsd.com/files/2010/03/comscore-huffpo-january.png"><img class="alignnone size-full wp-image-16979" title="comscore huffpo january" src="http://mediamemo.allthingsd.com/files/2010/03/comscore-huffpo-january.png" alt="" width="350" height="146" /></a></p>
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		<title>The One-Year Report Card of Yahoo&#039;s Carol Bartz&#8211;Management: A-</title>
		<link>http://allthingsd.com/20100114/the-one-year-report-card-of-yahoos-carol-bartz-management-a/</link>
		<comments>http://allthingsd.com/20100114/the-one-year-report-card-of-yahoos-carol-bartz-management-a/#comments</comments>
		<pubDate>Thu, 14 Jan 2010 16:04:40 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
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		<guid isPermaLink="false">http://kara.allthingsd.com/?p=22996</guid>
		<description><![CDATA[Yesterday, BoomTown wished Carol Bartz a happy one-year anniversary as CEO of Yahoo.

And today, it is time to shamelessly judge her tenure!

First up: An evaluation of her decisive management style and tough-talking leadership.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2010/01/547701959_4QebH-L-1.jpg"><img src="http://kara.allthingsd.com/files/2010/01/547701959_4QebH-L-1-275x183.jpg" alt="547701959_4QebH-L-1" title="547701959_4QebH-L-1" width="275" height="183" class="alignright size-medium wp-image-22999" /></a></p>
<p>Yesterday, BoomTown <a href="http://kara.allthingsd.com/20100113/happy-one-year-anniversary-carol-party-today-because-boomtowns-grading-begins-tomorrow/">wished Carol Bartz a happy one-year anniversary</a> as CEO of Yahoo.</p>
<p>And today, it is time to shamelessly judge her tenure!</p>
<p>As I noted, in an <a href="http://www.bloomberg.com/apps/news?pid=newsarchive&#038;sid=aik65VjgNieI">interview with Bloomberg last week</a>, Bartz gave herself a &#8220;B-minus in her first year.&#8221;</p>
<p>In the Bloomberg interview, Bartz explained that she gave herself a B- because she should have moved faster to reorganize Yahoo (YHOO) and to strike an online advertising and search partnership with Microsoft (MSFT), even as she noted that the management challenge at Yahoo &#8220;was a little tougher internally than I think I had anticipated.&#8221;</p>
<p>But an overall grade is too easy! Instead, over the next days, it&#8217;s time to drill down on specifics:  Management, financials, product innovation, deal-making and, yes, <em>moxie</em>.</p>
<p><a href="http://kara.allthingsd.com/files/2010/01/grade-a-minus.jpg"><img src="http://kara.allthingsd.com/files/2010/01/grade-a-minus.jpg" alt="grade-a-minus" title="grade-a-minus" width="108" height="108" class="alignleft size-full wp-image-23000" /></a></p>
<p>And for management, I give Bartz an <strong>A-</strong>.</p>
<p>Here&#8217;s why:</p>
<p><strong>Pros:</strong> There is no question that the hard-talking Bartz took charge from the get-go, expertly grabbing the reins at Yahoo and hitting targets on her very first day like some kind of digital Annie Oakley.</p>
<p>At her <a href="http://kara.allthingsd.com/20090113/live-blogging-yahoos-bartz-as-ceo-announcement-her-first-words-yahoooo">memorable press conference</a> on Jan. 13, 2009&#8211;lasting only 15 minutes and three questions&#8211;Bartz sternly admonished everyone to give Yahoo some &#8220;friggin&#8217; breathing room&#8221; and noted that the company &#8220;frankly, could use a little management.&#8221;</p>
<p>It was a refreshing statement of the obvious, especially after the tough year suffered by outgoing CEO and co-founder Jerry Yang, who was pretty spent by the end of his tenure.</p>
<p>Thus, any leader who had any kind of kinetic energy was going to get noticed.</p>
<p>And Bartz? She is&#8211;and I mean this in the nicest way&#8211;a nuclear reactor set to high.</p>
<p>At the press conference, Bartz also described herself a &#8220;straight shooter.&#8221;</p>
<p>Finally, she said she thought it &#8220;nonsense&#8221; to think that Yahoo was not feeling great about itself, spitting out the word &#8220;nonsense&#8221; in that scary-mommy, end-of-discussion way, like someone who has kids and knows a thing or two about nonsense.</p>
<p>And, I would have to say, Bartz has pretty much kept up the necessary take-charge tone and followed it up with action.</p>
<p><a href="http://kara.allthingsd.com/files/2010/01/kumbaya.gif"><img src="http://kara.allthingsd.com/files/2010/01/kumbaya-204x300.gif" alt="kumbaya" title="kumbaya" width="204" height="300" class="alignright size-medium wp-image-23010" /></a></p>
<p>She has projected firm leadership internally and to Wall Street, made cuts in staff immediately and <a href="http://kara.allthingsd.com/20090226/new-yahoo-management-structure-the-entire-memo/">restructured her top management</a> quickly, rendered fast decisions about cutting or <a href="http://kara.allthingsd.com/20090921/yahoos-adds-zimbra-to-the-garage-sale-as-it-tries-to-shed-what-isnt-you">selling off the hairball units</a> at Yahoo, and struck key partnerships with <a href="http://kara.allthingsd.com/20090729/microhoo-deal-finally-official-its-the-lite-version-but-is-it-still-tasty">Microsoft</a> (MSFT) and <a href="http://kara.allthingsd.com/20091202/yahoos-project-rushmore-begins-with-massive-facebook-connect-deployment-across-internet-giant">Facebook</a>.</p>
<p>And she has done so with little of the sentimentality that had long characterized Yahoo, going out of her way to tell people what she thought rather than doing the typical &#8220;Kumbaya&#8221; moves.</p>
<p>If her success in management could be boiled down, its essence would be this: Carol knows how to clean up a troubled company, Carol knows how to take charge and most of all, Carol makes decisions.</p>
<p><strong>Cons:</strong> And that&#8217;s just where the minus comes in.</p>
<p>From the start and still today, I have heard many at Yahoo grumble that while Bartz has a terrific ability to make decisions, she might be too much about decisive decision-making than about making good decisions.</p>
<p>To be fair, that&#8217;s exactly what people who avoid making tough decisions always say.</p>
<p>Still, the worry about this has persisted, with many calling Bartz&#8217;s manner more showy than substantive, more brute force than finesse. Her tough style&#8211;especially when she starts to curse&#8211;definitely grates some.</p>
<p>There is obviously a whiff of sexism here&#8211;which any strong-speaking woman in tech is subject to and must find a way to completely ignore.</p>
<p>It is hard to do. Thus, I have heard Bartz negatively called by employees: Sarah Palin of the Internet (Maverick!), Al Haig of the Internet (I&#8217;m in charge here!) and Tony Soprano of the Internet (Badda Bing!).</p>
<p><a href="http://kara.allthingsd.com/files/2010/01/100431082_bfe6d3e1-3ed8-4f83-a7b5-3290f3f67bd4-tony-soprano.jpg"><img src="http://kara.allthingsd.com/files/2010/01/100431082_bfe6d3e1-3ed8-4f83-a7b5-3290f3f67bd4-tony-soprano-195x300.jpg" alt="100431082_bfe6d3e1-3ed8-4f83-a7b5-3290f3f67bd4-tony-soprano" title="100431082_bfe6d3e1-3ed8-4f83-a7b5-3290f3f67bd4-tony-soprano" width="195" height="300" class="alignleft size-medium wp-image-23017" /></a></p>
<p>Externally, while she has a lot of prominent supporters in Silicon Valley, more than enough major Internet execs have asked me <em>sotto voce</em> if the former Autodesk (ADSK) CEO knows enough about the Internet business&#8211;and not just software and tech, where she has loads of experience&#8211;to be an effective leader (I will get to that when I grade product innovation).</p>
<p>What&#8217;s interesting here is that for all those who don&#8217;t like her style, she also garners a rabid fan base at Yahoo and among investors, who are very glad someone is projecting leadership and putting the ducks in order at the company.</p>
<p>The bottom line, though, is that Bartz does not seem to care all that much about what anyone thinks of her.</p>
<p>On her first day, she said: &#8220;My focus is on turning the company around.&#8221;</p>
<p>And in this regard, she has most definitely kept that focus and that promise.</p>
<p>Of course, all of this depends on how Yahoo recovers financially and how its stock performs on Wall Street, which will be the next area to be graded.</p>
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		<title>Comcast Pitches NBC Deal to Investors: Check Out Our "Wow Chart"!</title>
		<link>http://allthingsd.com/20091203/live-comcast-pitches-nbc-deals-to-investors-with-charts/</link>
		<comments>http://allthingsd.com/20091203/live-comcast-pitches-nbc-deals-to-investors-with-charts/#comments</comments>
		<pubDate>Thu, 03 Dec 2009 13:35:57 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
				<category><![CDATA[Media]]></category>
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		<guid isPermaLink="false">http://mediamemo.allthingsd.com/?p=13480</guid>
		<description><![CDATA[Comcast investors have been upset with the company ever since its plans to acquire control of NBC Universal from GE appeared in September. Now's the time for the company to start wooing them back (at least publicly).]]></description>
			<content:encoded><![CDATA[<p>Comcast investors <a href="http://mediamemo.allthingsd.com/20091104/comcast-wont-talk-about-nbc-u-will-talk-about-internet-video/?mod=ATD_sphere">have been upset with the company</a> ever since its <a href="http://mediamemo.allthingsd.com/20091002/wall-street-to-comcast-no-nbc-for-us-thank-you-very-much/">plans to acquire control of NBC Universal from GE</a> appeared in September. <a href="http://mediamemo.allthingsd.com/20091203/what-will-comcast-give-up-to-get-the-nbc-deal-through-washington-place-your-bets/">Now&#8217;s the time for the company to start wooing them back</a> (at least publicly).</p>
<p>On the call: Comcast (CMCSA) CEO Brian Roberts, COO Steve Burke, CFO Michael Angelakis</p>
<p><strong>CEO Brian Roberts:</strong> The deal will make us &#8220;strategically complete.&#8221; [Translation: We promise not buy anything else!]</p>
<p>Obligatory praise for Jeff Zucker for &#8220;completely transforming NBC into one of the premier cable operators in the business,&#8221; which is the same way Zucker likes to describe himself.</p>
<p>This deal is so incredibly easy for us to finance that we&#8217;re increasing our dividend by 40 percent. [Also, we're doing this with both hands tied behind our back!]</p>
<p><strong>CFO Michael Angelakis:</strong> If you get confused, there&#8217;s an appendix at the end of our presentation.</p>
<p>Did you know that Fandango is a &#8220;female-oriented&#8221; site? Me either.</p>
<p>Comcast has a &#8220;clear path to control&#8221; the joint venture by buying out GE&#8217;s (GE) interest, but future payouts are capped at $5.75 billion.</p>
<p>Debt ratings agencies have signed off on this, so don&#8217;t worry. They never get this wrong.</p>
<p><strong>Roberts:</strong> Can&#8217;t stress this enough: We&#8217;re not buying a faltering film company and a flailing broadcaster; we&#8217;re buying a bunch of profitable cable channels. Cable channels. Cable channels.</p>
<p>Also, we&#8217;re buying at the bottom of the cycle, so some of the duds that we&#8217;re buying may end up having upside. </p>
<p>[Roberts is right about this, by the way: Networks really do rise and fall over time, almost independently of what management does. Remember ABC's peril in the pre-&#8220;Lost" era?]</p>
<p>Oh yeah. There are some theme parks, too.</p>
<p>Okay. Back to the deal: Cable channels, cable channels, cable channels. They are great. We love them. Affiliate fees are growing 12 percent a year, ad sales are up seven percent a year. Check out the awesome slide on page 19. &#8220;I think this is a wow slide&#8221; (see below).</p>
<p><a rel="lightbox" href="http://mediamemo.allthingsd.com/files/2009/12/comcast-wow-slide.png"><img class="alignnone size-full wp-image-13496" title="comcast wow slide" src="http://mediamemo.allthingsd.com/files/2009/12/comcast-wow-slide.png" alt="comcast wow slide" width="350" height="187" /></a></p>
<p>Some more praise for Zucker.</p>
<p><strong>COO Steve Burke:</strong> Cable channels. Cable channels. Cable channels. We love the ones we own, but they&#8217;re &#8220;subscale&#8221; compared to what we&#8217;re buying from GE.</p>
<p>We&#8217;re going to cross-promote the heck out of these and figure out how to make G, Style and Versus more valuable, like NBCU does with Bravo, etc.</p>
<p>[We're about 40 minutes into the call, and this is the first discussion about the Web.] The JV will be a Top 10 company with 82 million uniques.</p>
<p>At least for now, Comcast is still talking about &#8220;On Demand Online,&#8221; not XTREME ONLINE RAWKS or whatever the company is supposedly going to call it.</p>
<p><strong>Q&amp;A:</strong></p>
<p class="question"><em>Can you give us more color on new businesses you may create once you combine? Also, what are you going to sell off?</em></p>
<p><strong>Burke:</strong> There are &#8220;literally dozens of innovative ideas that come out of this combination.&#8221; Like interactive advertising. Targeting, etc. (via cable, not Web). We can launch new channels, new video-on-demand packages, more windows. A lot of opportunities.</p>
<p><strong>Roberts:</strong> We don&#8217;t plan on selling anything. But &#8220;we have a long time between signing and closing&#8221; to learn about the assets we&#8217;re buying.</p>
<p class="question"><em>A lot of people have tried vertical integrations like this and they haven&#8217;t worked. What&#8217;s going on here? Also, how are you going to work with businesses like Hulu, which threaten your business?</em></p>
<p><strong>Roberts:</strong> Some of these have worked. Think of [Liberty Media Chairman] John Malone&#8217;s deals. Or Time Warner (TWX) buying Turner. Or even News Corp. (NWS) and DirecTV. Anyway, that&#8217;s the past. Let&#8217;s look to the future. More important is that we believe this deal works with zero synergy benefits. [That's for you, Jeff Bewkes.]</p>
<p>[Um, anyone else get bumped off the call? Nope, just me. Apologies, will go get the Hulu the rest of Roberts's answer later, but I'm guess it was something along the lines of "we love Hulu and have no intent to crush it like a bug, and besides, we're one of three networks that will own it."]</p>
<p class="question"><em>Please explain how you&#8217;ll negotiate for, say, the Olympics and other assets when you don&#8217;t actually own NBC yet.</em></p>
<p><strong>Roberts:</strong> [GE CEO] Jeff [Immelt] and Jeff [Zucker] will have to run their business until the deal closes.</p>
<p class="question"><em>What about regulatory hassles?</em></p>
<p><strong>Roberts:</strong> No worries. This is a &#8220;pro-consumer transaction.&#8221; And check out all the things we said to that effect earlier this morning.</p>
<p><strong>Burke:</strong> Both local advertising and national advertising are recovering. An analyst notes that GE has never told us much about NBCU because it hasn&#8217;t had to. So we&#8217;re going to get a much better look at how the business works going forward.</p>
<p class="question"><em>Why are you sticking your regional sports deals into this joint venture? Also, why not just hand the money you&#8217;re spending on this deal back to investors, via share buybacks?</em></p>
<p><strong>Burke (I think):</strong> When you think of sports, its hard not to think of NBC Sports and Dick Ebersol [ahem]. Also, we think there&#8217;s some synergy with some of NBC&#8217;s local broadcast stations.</p>
<p><strong>Angelakis (I think):</strong> We&#8217;ve already bought back $14 billion worth of stock in six years, and we&#8217;ll keep buying back stock. Also, check out our dividend. But we need a balance. This deal gives us financial returns and long-term strategic returns.</p>
<p><strong>Roberts (I think):</strong> The timing is good. Size is appropriate&#8211;we can handle it. &#8220;You gotta like the business&#8230;.We think it&#8217;s a reasonable risk. That&#8217;s what we&#8217;ve always done at Comcast.&#8221;</p>
<p>As for regulatory risk, if Washington wants us to make a really really serious change that blows up the rationale for doing this, we have the ability to back out. But we don&#8217;t think that&#8217;s going to happen. &#8220;Is there a break-up fee?&#8221; the questioner asks. Answer: No.</p>
<p class="question"><em>What does this mean for TV Everywhere/On Demand Online? (and Hulu)?</em></p>
<p><strong>Burke:</strong> NBC has been careful not to put too much cable content on the Internet. We think that&#8217;s a smart strategy, &#8220;not that they asked us.&#8221; We think that going forward, you&#8217;re going to continue to have free broadcast stuff on Hulu, and cable stuff on TV Everywhere.</p>
<p><strong>Roberts:</strong> Windows in general, our focus has been on expanding offerings, putting them on multiple platforms. All of those things are more likely to occur in a way that benefits distributors, content owners and consumers. &#8220;What about Hulu premium?&#8221; the questioner asks. Answer: &#8220;That&#8217;s certainly not in the cards.&#8221;</p>
<p>Here&#8217;s Comcast&#8217;s pitch in chart form:</p>
<p><object id="_ds_18408917" classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" width="350" height="550" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,40,0"><param name="name" value="_ds_18408917" /><param name="FlashVars" value="doc_id=18408917&amp;mem_id=288399&amp;doc_type=pdf&amp;fullscreen=0" /><param name="allowScriptAccess" value="always" /><param name="allowFullScreen" value="true" /><param name="src" value="http://viewer.docstoc.com/v2/" /><param name="flashvars" value="doc_id=18408917&amp;mem_id=288399&amp;doc_type=pdf&amp;fullscreen=0" /><param name="allowfullscreen" value="true" /><embed id="_ds_18408917" type="application/x-shockwave-flash" width="350" height="550" src="http://viewer.docstoc.com/v2/" allowfullscreen="true" allowscriptaccess="always" flashvars="doc_id=18408917&amp;mem_id=288399&amp;doc_type=pdf&amp;fullscreen=0" name="_ds_18408917"></embed></object><br />
<span style="font-size: xx-small;"><a href="http://www.docstoc.com/docs/18408917/ComcastNewPDF_12309">ComcastNewPDF_12.3.09</a> &#8211; </span></p>
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		<title>Which Media Mogul Would You Rather Be Right Now: Arianna Huffington or Jim Cramer?</title>
		<link>http://allthingsd.com/20081202/which-media-mogul-would-you-rather-be-right-now-arianna-huffington-or-jim-cramer/</link>
		<comments>http://allthingsd.com/20081202/which-media-mogul-would-you-rather-be-right-now-arianna-huffington-or-jim-cramer/#comments</comments>
		<pubDate>Tue, 02 Dec 2008 15:13:24 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
				<category><![CDATA[Media]]></category>
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		<guid isPermaLink="false">http://mediamemo.allthingsd.com/?p=1567</guid>
		<description><![CDATA[TheStreet.com is worth about $100 million. So is The Huffington Post. But investors are much more optimistic about one of these Web businesses.]]></description>
			<content:encoded><![CDATA[<p><a href="http://mediamemo.allthingsd.com/files/2008/11/arianna.jpg"><img class="alignright size-full wp-image-1338" title="arianna" src="http://mediamemo.allthingsd.com/files/2008/11/arianna.jpg" alt="" width="192" height="250" /></a>Doug McIntyre at 24/7 Wall Street makes a provocative point: With a new <a href="http://kara.allthingsd.com/20081201/huffington-post-nabs-25-million-in-funding-heres-an-exclusive-boomtown-interview-with-oak-investments-fred-harman/">$25 million round of funding secured</a>, Arianna Huffington&#8217;s Huffington Post is now worth about as much as Jim Cramer&#8217;s TheStreet.com.</p>
<p>Huffpo&#8217;s newest round values the company at about $100 million, which means its investors think it will be worth much more one day. That&#8217;s the same value, more or less, that investors place on TheStreet (TSCM), even though it generated some $65 million last year and has about $80 million in cash on hand. <a href="http://www.247wallst.com/2008/12/the-huffington.html">McIntyre</a>:</p>
<blockquote><p>Huffington has several important advantages over TheStreet. For starters, it does not rely on one person for most of its traffic. If Jim Cramer left TSCM, the company would be in real trouble.</p>
<p>Second, Huffington has diversified beyond it political news base. Over the next year or so, it will become clear whether that was a good idea or not. Adding &#8220;style&#8221; and &#8220;entertainment&#8221; sections puts it into competition with a lot of other online success stories.</p>
<p>Third, Huffington aggregates a lot of content from around the web. The cost of doing this is remarkably low. The company pays little if anything to most of its bloggers. TheStreet has a relatively large staff and produces most of its own content.</p>
<p>The final difference between the two companies is probably the most telling. At its current rate of growth, which could be hurt by the end of the 2008 election process, Huffington may double in size again over the next year or so, if its efforts to diversify its content works.</p>
<p>It would be hard to find analysts who believe TSCM is going to expand its audience or revenue at a rate of 100%.&#8221;</p></blockquote>
<p>I can think of some counter-arguments to this, but they&#8217;re half-hearted: TSCM&#8217;s affluent readers should be worth more to advertisers than Huffpo&#8217;s; TSCM still has a revenue stream from subscribers to buffet it from ad market turmoil; Huffpo&#8217;s aggregation model isn&#8217;t unique and could be replicated by anyone who wants to hire some devilishly clever Web editors, etc.</p>
<p>But better to acknowledge that the HuffPo crew have built something very big, very fast. And that anyone who does that gets rewarded for it, even in an econalypse.</p>
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