Howard and the crazy folks over at Wallstrip.com should be having a party.
Today they officially announced that wallstrip has been acquired by CBS Interactive.
Its pretty amazing to see my favorite online media/entertainment source bought out after only eight months of existence. It has been speculated that they have been purchased for $5 Million, but who knows/ really cares since the fact remains that a vblog can gain such traction in the internet marketplace.
Amongst the 7 billion websites, this one alone has been able to conquer the all elusive world of stocks. No wonder its been bought out. We need similar channels explaining hard to grasp subjects like science, stocks, law - dare I say WOMEN.
Maybe there could be a show about explaining lawyers.
No, I'd rather shoot myself than watch a video blog about lawyers. But that is the essence for wallstrip's success. They tackled a heavy topic that many people are curious about, but most people have little to no clue about.
Through a smart, vetted team of investors (Howard Lindzon, Roger Ehrenberg - Monitor110, Fred Wilson - Union Square Ventures, Andy Monfried and the Gotham Gal amongst others) Wallstrip became a reality and a powerhouse in the web video domain. Their success is no small feat and a great example of this web "2.0" working as a well oiled machine. Working together with prolific bloggers, a great exec team and fantastic content the company exploded.
The key feature here is fantastic content. All the investors, bloggers and money in the world can not make a start-up work if the product sucks. I don't care if you have a superstar and their damn website or myspace page for that matter. If the product sucks, so do the returns.
Kudos to Howard and Lindsay for pulling off the impossible.