Who says you can’t make money blogging… Actually most people… I’m living proof. But there's always hope, and today’s new-media success story makes you think… Well, you never know. Last year, Howard Lindzon came up with an idea for a daily video blog that would take a lighthearted look at Wall Street news. In classic entrepreneurial fashion, Lindzon, attracted $600,000 in start-up funding from friends and family, then gave birth to Wallstrip, hosted by Lindsey Campbell. Today, CBS Interactive announced it had bought Wallstrip for $5 million, with Quincy Smith, the unit's president saying, "The Wallstrip team is made up of savvy and resourceful Web content creators whose talents we will utilize as we build our next-generation roster of programming verticals. Also, their distribution strategy of syndicating their content to many video properties rather than force people to visit Wallstrip is in line with the CBS Interactive philosophy." OK, whatever that means, it was obviously worth $5 million to CBS rather than produce this kind of content themselves. Particularly when you consider that the major networks are like the major BDA’s… Unable to fully understand the new markets and audiences out there, and really slow to do anything about it when they eventually do. Check out today’s episode of Wallstrip and the less than warm greeting they get at CBS headquarters.
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What's wrong with becoming a bloated capitalist?
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