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OnMedea Raises $50 At A $1 Billion Valuation

$100 million start up fund, Adam Fogelson, Alan Spoon, Alexander von Furstenberg, Angela Bromstad, Ari Emanuel, Arthur Martinez, Barry Diller, Ben Hur, Ben Hur Silverman, Ben Silverman, Bryan Lourd, Charles King, Craig Smith, David Rosenblatt, Donald R. Keough, Donna Langley, DumbDumb, Edgard Bronfman, Electus, Electus Logo, Endemol, Ezra Kucharz, Fortune's 40 under 40, Graham Stanton, Greg Blatt, Greg Morrow, Greg Stevens, Gregg Winiarski, Hans Woolley, IAC, Jason Batement, Jason Stewart, Jay Herratti, Jay Leno, Jeff Weiner, Jeff Zucker, Jeff Zucker's firing, Jeffrey Immelt, Jill Kennedy, Joanne Hawkins, Joey Levin, John C. Malone, John Ferriter, John Foley, Josh Abramson, Jr., Kara Swisher, Keynote address, Khan Manka, King World, Louis Castle, Manka Bros., Mark Burnett, Mark Stein, media analyst, Michael Jackson, Michael Schwerdtman, Michael Zeisser, MIPTV Conference 2010, Mt. Kilimanjaro, NBC Universal, Nikki Finke, Notional, On Medea, OnMedea, Paul Telegdy, Richard F. Zannino, Rick Finkelstein, Ricky Van Veen, Ryan Seacrest, Scott Garell, Scott Savitz, Shana Fisher, Sharon Waxman, Terry Semel, The Biggest Loser, the Jay Leno Show, The Restaurant, The Tonight Show, thewrap.com, Thomas J. McInerney, Tina Brown, twitter, Victor Kaufman, Will Arnett, 1000Memories, Amish Jani, Andrew Hyde, Andrew Mason, Andy Sack, Ashton Kutcher, Aydin Senkut, Bin 38, Bob Davis, Brad Feld, Brian Kempner, Christopher Steiner, Dan Nova, Daniel Gaisin, Danielle Hootnick, Dave McClure, David Brown, David Cohen, Demi Moore, Demo Day, Diego Gutierrez, Edmond Yue, Emmett Shear, Eric Lefkofsky, Fergal Mullen, FirstMark Capital, Founders At Work, Francis Duong, Gaurav Tewari, Gerald Poch, Greg McAdoo, Harjeet Taggar, Highland Capital Partners, Irena Goldenberg, Jared Polis, Jeff Weiner, Jessica Livingston, Jessica Mah, Jill Kennedy, John Hsin, John Palfrey, Jr., Justin Kan, Justin.tv, Khan Manka, Larry Wilson, Laurence Albukerk, Lawrence Lenihan, Loopt, Manish Patel, Manka Bros., Mark Zuckerberg, Matt Nichols, Michael Arrington, Michael Gaiss, Nick Marsh, OnMedea, Paul Buchheit, Paul Cianciolo, Paul Graham, Peter Bell, Reddit, Richard de Silva, Richard Heitzman, Rick Heitzmann, Robert Morris, Ron Conway, Rudy Adler, Sand Hill Road, Scott Shane, Scott Switzer, Sequoia Capital, Sergey Nazarov, Shabbir Dahod, Shawn Broderick, Sheryl Sandberg, Sterling Phillips, Tapzilla, TechCrunch, TechStars, TextPayMe, Trevor Blackwell, Y Combinator, Jeff Weiner, Nick Besbeas, Steve Cadigan, Mike Gamson, David Henke, Robby Kwok, Deep Nishar, Erika Rottenberg, Steve Sordello, Reid Hoffman, Allen Blue, Konstantin Guericke, Eric Ly, jean-Luc Vaillant, A George "Skip" Battle, Leslie Kilgore, Stanley Meresman, Michael J. Moritz, David Sze, Sal Iannuzzi, Timothy T. Yates, John Gaulding, Admiral Edmund P. Giambastiani, Cynthia P. McCague, Jeffrey F. Rayport, Roberto Tunioli, James M. Langrock, Andrea Bertone, Darko Dejanovic, Ted Gilvar, Edward Lo, Michael C. Miller, Lise Poulos, Mark Stoever, Patrick W. Manzo, OnMedea, Jill Kennedy, Manka Bros., Khan Manka, Ben Silverman, Sumner Redstone, Jeff Zucker, Ari Emanuel, Rupert Murdoch, Bob IgerI did it!

So, my mom sent me a check for $50 because she wanted to buy a piece of my growing media empire.  (The growing part is a yet-to-launch blog on the insane nightlife of La Canada, CA called “La Canada Nights”.)

I told my mom her share of the company would be based on a $1 billion valuation (as it seems that’s the only valuation there is for a company these days).

For that $50 she will own 0.00000005% of the company.  As part of my deal with Manka Bros., I own 50% of OnMedea (valued at $500 million), Manka Bros. owns another 20%($200 million) and Khan Manka, Jr. owns the remaining 30% ($300 million).  My mom’s share will come out of my piece.

While some would say this is an outrageously high valuation and a sign that we are truly in a bubble – it’s really no more ridiculous than Airbnb, LinkedIn, Zynga, Groupon, Facebook or (fill in Y Combinator’s next spin-off here).

$100 million start up fund, Adam Fogelson, Alan Spoon, Alexander von Furstenberg, Angela Bromstad, Ari Emanuel, Arthur Martinez, Barry Diller, Ben Hur, Ben Hur Silverman, Ben Silverman, Bryan Lourd, Charles King, Craig Smith, David Rosenblatt, Donald R. Keough, Donna Langley, DumbDumb, Edgard Bronfman, Electus, Electus Logo, Endemol, Ezra Kucharz, Fortune's 40 under 40, Graham Stanton, Greg Blatt, Greg Morrow, Greg Stevens, Gregg Winiarski, Hans Woolley, IAC, Jason Batement, Jason Stewart, Jay Herratti, Jay Leno, Jeff Weiner, Jeff Zucker, Jeff Zucker's firing, Jeffrey Immelt, Jill Kennedy, Joanne Hawkins, Joey Levin, John C. Malone, John Ferriter, John Foley, Josh Abramson, Jr., Kara Swisher, Keynote address, Khan Manka, King World, Louis Castle, Manka Bros., Mark Burnett, Mark Stein, media analyst, Michael Jackson, Michael Schwerdtman, Michael Zeisser, MIPTV Conference 2010, Mt. Kilimanjaro, NBC Universal, Nikki Finke, Notional, On Medea, OnMedea, Paul Telegdy, Richard F. Zannino, Rick Finkelstein, Ricky Van Veen, Ryan Seacrest, Scott Garell, Scott Savitz, Shana Fisher, Sharon Waxman, Terry Semel, The Biggest Loser, the Jay Leno Show, The Restaurant, The Tonight Show, thewrap.com, Thomas J. McInerney, Tina Brown, twitter, Victor Kaufman, Will Arnett, 1000Memories, Amish Jani, Andrew Hyde, Andrew Mason, Andy Sack, Ashton Kutcher, Aydin Senkut, Bin 38, Bob Davis, Brad Feld, Brian Kempner, Christopher Steiner, Dan Nova, Daniel Gaisin, Danielle Hootnick, Dave McClure, David Brown, David Cohen, Demi Moore, Demo Day, Diego Gutierrez, Edmond Yue, Emmett Shear, Eric Lefkofsky, Fergal Mullen, FirstMark Capital, Founders At Work, Francis Duong, Gaurav Tewari, Gerald Poch, Greg McAdoo, Harjeet Taggar, Highland Capital Partners, Irena Goldenberg, Jared Polis, Jeff Weiner, Jessica Livingston, Jessica Mah, Jill Kennedy, John Hsin, John Palfrey, Jr., Justin Kan, Justin.tv, Khan Manka, Larry Wilson, Laurence Albukerk, Lawrence Lenihan, Loopt, Manish Patel, Manka Bros., Mark Zuckerberg, Matt Nichols, Michael Arrington, Michael Gaiss, Nick Marsh, OnMedea, Paul Buchheit, Paul Cianciolo, Paul Graham, Peter Bell, Reddit, Richard de Silva, Richard Heitzman, Rick Heitzmann, Robert Morris, Ron Conway, Rudy Adler, Sand Hill Road, Scott Shane, Scott Switzer, Sequoia Capital, Sergey Nazarov, Shabbir Dahod, Shawn Broderick, Sheryl Sandberg, Sterling Phillips, Tapzilla, TechCrunch, TechStars, TextPayMe, Trevor Blackwell, Y Combinator, Jeff Weiner, Nick Besbeas, Steve Cadigan, Mike Gamson, David Henke, Robby Kwok, Deep Nishar, Erika Rottenberg, Steve Sordello, Reid Hoffman, Allen Blue, Konstantin Guericke, Eric Ly, jean-Luc Vaillant, A George "Skip" Battle, Leslie Kilgore, Stanley Meresman, Michael J. Moritz, David Sze, Sal Iannuzzi, Timothy T. Yates, John Gaulding, Admiral Edmund P. Giambastiani, Cynthia P. McCague, Jeffrey F. Rayport, Roberto Tunioli, James M. Langrock, Andrea Bertone, Darko Dejanovic, Ted Gilvar, Edward Lo, Michael C. Miller, Lise Poulos, Mark Stoever, Patrick W. Manzo, OnMedea, Jill Kennedy, Manka Bros., Khan Manka, Ben Silverman, Sumner Redstone, Jeff Zucker, Ari Emanuel, Rupert Murdoch, Bob IgerYou could argue – hey, your annual revenues are in the low four figuresZynga makes hundreds of millions (mid nine figures).

Point taken.

But here’s my point:  A pumped up valuation is exactly that.

The key question for the entire financial ecosystem of Silicon Valley is, why do you do it?  Answer:  Because you can’t stop yourselves.

A fair valuation is not even on your radar because greed and jealousy take over.  ‘That guy over there is 21 and got $200 million, I’m 25 and I’m only getting $100 million?  F that!’

Why is everyone so desperate to reach THE BIG $B?  Is just because of that one line of dialogue in “The Social Network”?  Goddamn that is shallow… oh, yeah, right… I forgot who I am writing about.

Seriously, what’s wrong with a $350 million FAIR valuation and then show the world that you can grow and be worth more?  Or a $50 million FAIR valuation?  This obsession with “BILLION” is going to bring the entire system crashing down in the next year or so.

Bullshit is bullshit is bullshit…

But I digress… today, yippee-ki-yay, OnMedea is worth $1 billion dollars!

Suck on it.

$100 million start up fund, Adam Fogelson, Alan Spoon, Alexander von Furstenberg, Angela Bromstad, Ari Emanuel, Arthur Martinez, Barry Diller, Ben Hur, Ben Hur Silverman, Ben Silverman, Bryan Lourd, Charles King, Craig Smith, David Rosenblatt, Donald R. Keough, Donna Langley, DumbDumb, Edgard Bronfman, Electus, Electus Logo, Endemol, Ezra Kucharz, Fortune's 40 under 40, Graham Stanton, Greg Blatt, Greg Morrow, Greg Stevens, Gregg Winiarski, Hans Woolley, IAC, Jason Batement, Jason Stewart, Jay Herratti, Jay Leno, Jeff Weiner, Jeff Zucker, Jeff Zucker's firing, Jeffrey Immelt, Jill Kennedy, Joanne Hawkins, Joey Levin, John C. Malone, John Ferriter, John Foley, Josh Abramson, Jr., Kara Swisher, Keynote address, Khan Manka, King World, Louis Castle, Manka Bros., Mark Burnett, Mark Stein, media analyst, Michael Jackson, Michael Schwerdtman, Michael Zeisser, MIPTV Conference 2010, Mt. Kilimanjaro, NBC Universal, Nikki Finke, Notional, On Medea, OnMedea, Paul Telegdy, Richard F. Zannino, Rick Finkelstein, Ricky Van Veen, Ryan Seacrest, Scott Garell, Scott Savitz, Shana Fisher, Sharon Waxman, Terry Semel, The Biggest Loser, the Jay Leno Show, The Restaurant, The Tonight Show, thewrap.com, Thomas J. McInerney, Tina Brown, twitter, Victor Kaufman, Will Arnett, 1000Memories, Amish Jani, Andrew Hyde, Andrew Mason, Andy Sack, Ashton Kutcher, Aydin Senkut, Bin 38, Bob Davis, Brad Feld, Brian Kempner, Christopher Steiner, Dan Nova, Daniel Gaisin, Danielle Hootnick, Dave McClure, David Brown, David Cohen, Demi Moore, Demo Day, Diego Gutierrez, Edmond Yue, Emmett Shear, Eric Lefkofsky, Fergal Mullen, FirstMark Capital, Founders At Work, Francis Duong, Gaurav Tewari, Gerald Poch, Greg McAdoo, Harjeet Taggar, Highland Capital Partners, Irena Goldenberg, Jared Polis, Jeff Weiner, Jessica Livingston, Jessica Mah, Jill Kennedy, John Hsin, John Palfrey, Jr., Justin Kan, Justin.tv, Khan Manka, Larry Wilson, Laurence Albukerk, Lawrence Lenihan, Loopt, Manish Patel, Manka Bros., Mark Zuckerberg, Matt Nichols, Michael Arrington, Michael Gaiss, Nick Marsh, OnMedea, Paul Buchheit, Paul Cianciolo, Paul Graham, Peter Bell, Reddit, Richard de Silva, Richard Heitzman, Rick Heitzmann, Robert Morris, Ron Conway, Rudy Adler, Sand Hill Road, Scott Shane, Scott Switzer, Sequoia Capital, Sergey Nazarov, Shabbir Dahod, Shawn Broderick, Sheryl Sandberg, Sterling Phillips, Tapzilla, TechCrunch, TechStars, TextPayMe, Trevor Blackwell, Y Combinator, Jeff Weiner, Nick Besbeas, Steve Cadigan, Mike Gamson, David Henke, Robby Kwok, Deep Nishar, Erika Rottenberg, Steve Sordello, Reid Hoffman, Allen Blue, Konstantin Guericke, Eric Ly, jean-Luc Vaillant, A George "Skip" Battle, Leslie Kilgore, Stanley Meresman, Michael J. Moritz, David Sze, Sal Iannuzzi, Timothy T. Yates, John Gaulding, Admiral Edmund P. Giambastiani, Cynthia P. McCague, Jeffrey F. Rayport, Roberto Tunioli, James M. Langrock, Andrea Bertone, Darko Dejanovic, Ted Gilvar, Edward Lo, Michael C. Miller, Lise Poulos, Mark Stoever, Patrick W. Manzo, OnMedea, Jill Kennedy, Manka Bros., Khan Manka, Ben Silverman, Sumner Redstone, Jeff Zucker, Ari Emanuel, Rupert Murdoch, Bob IgerJill Kennedy – OnMedea

Permanent link to this article: http://mankabros.com/blogs/onmedea/2011/08/03/onmedea-raises-50-at-a-1-billion-valuation/

11 comments

  1. Molly Glover says:

    Congratulations. Your future may actually be a little brighter than some of those companies. Spend the billion well. This country needs a capital injection.

  2. Khan Manka says:

    If your little blog is worth $1 billion then Manka Bros. must be worth $10 trillion.

  3. Ummmm says:

    Ummm, ok. Let’s see. A company called Storm8 just got a $1 billion valuation and they have $100 million in revenues. You say you have “low four figures” – let’s give you the benefit of the doubt and say it’s $4,000 / year. Storm8′s valuation is 10x revenues… yours would be 250,000x revenues. I just can’t seem to get there. Sorry.

    1. Jill Kennedy says:

      Hey, listen, Ummmm, but I have real growth potential. I may grow over 200% in the next year. After that, I may grow another 500%. I may be in the triple digits for the next 10 years. Wall Street loves that shit.

  4. thorsten says:

    But when you make an IPO and the average american does believe these valuations he reads all day, then these numbers get real.
    The people who lose their money in the end are always the average people and Elevation Partners.

  5. Tech Bubble 2011 says:

    While I know you’re not serious and make a good point, this blog is a clear sign that the bubble is about to break. Like real estate, it wasn’t until comedians and people on main street started to really focus on the crazy valuations – after that, it was all over. Very similar at the end of the last century. People were joking about making a quick buck and stocks doubling and tripling every day. It’s a sure sign of the end.

  6. The Value Major says:

    Yeah this post is hilarious. The entire ‘internet’ sector is horribly overvalued. I actually ran the numbers- and it’s not close. I wrote it up in a post last week: http://thevaluemajor.com/gravity-and-the-internet/.

    1. Jill Kennedy says:

      Interesting that your favorite stock in 1999 was AOL. I loved AOL then and though they were brilliant for getting the Time Warner deal. I felt bad for Time Warner because I didn’t think such a great old company of classic brands deserved the assault they received from AOL – and we know how it all turned out. Time Warner may survive in the end. AOL is dead within 2 years, IMHO. LinkedIn drives me nuts these days. I know it will fail eventually because senior management could care less about the product. You can tell from the interviews. No one can love a product that boring. They can, however, love the money they’ll make from it. But in the long run… fail.

  7. Bill says:

    My post here alone is worth $1 billion. so your company must be worth a lot more than that. I have not decided if I am going to sell 10% of this response to the public for $100 million or just declare that my post is worth $10 billion and sell 10% for $1 billion. Or I would be open to private equity coming in and buying me out for $1 million. That’s dirt cheap and, frankly, an insult, but I’ll take it today only just so I can go an post on other sites and hope to make more.

  8. Mark Zuckerberg says:

    You really need to get laid!

  9. davillus hynzerelli says:

    You’re valuation looks just right to me. It reminds me of back when I was a stockbroker in the late 90′s & companies like CMGI were hemorrhaging $ but were trading at $290 bucks a share based on future earnings. U remember CMGI don’t u? Heck, it’s probably trading on the bulletin board or pink sheets presently.

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