Just had a skype call with Murti from www.peanutlabs.com – started jan 07 – and now doing 5mio$ rev this year. Please tell me stories that beat this (in comment).
Someone in the deal called them 4 founders – a bunch of unorganised kids – I originally invested in their social network – http://www.xuqa.com – now a 70k$ a month business in Turkey. This is such a seldom story – and now they are even doing one more thing.. So I can end up with 3 companies instead of one… Wholly cow… 3 for the price of one – NEVER HAPPENED BEFORE i think.Read Full Post | Make a Comment ( 3 so far )
Today was a FANTASTIC day for my newspaper – Nyhedsavisen is now officially number one in readers in Denmark. Dont mix it up with being number one in profitability – but its a VERY VERY good start 4 weeks after taking over. Im still feeling trouble in my stomach when I think about the 180 people we have fired – but its time to move forward. Humble and Ambitious and Positive – and get the media buyers to use our product.
Extra info: Hardcore article about NYT
Im a socialist (believe it or not) comming from working class – using my skills to change the world a little bit. And I think the unions in Denmark are FANTASTIC – they have a BIG BIG STAKE in our economy being the best in EU – since they have been super fair in the how to hire and fire – unlike Germany and France (and unlike all the greedy CEOs who wants a billion to leave their jobs)… BUT I have to say that the process of firering journalists is stupid and very bad for the “worker” – since we have now been in a limbo for 7 days (and will stay like that for another 7) where we cant decide who should stay or who should go – thats simply not human (probobly there is a another good explanation).
Ok – I know its stupid of me to comment on this – but I had to.Read Full Post | Make a Comment ( None so far )
The AMASING TEAM at BullGuard – (my consumer Anti Virus baby) – is really having a breaktrough (basicly we always just wanted to beat DanWare in revenue for some srange reason – sorry Peter . But its also 6years – and more then 12mioUSD we have spend to build it. Im so proud of this award – and all these reviews.Read Full Post | Make a Comment ( 1 so far )
Today we had to layoff quite a lot of people at my newspaper and restructure quite a bit. I really rally hated it, Im simply to soft for shit like that. But it was simply needed to make our profit plans work. And even though Im really hard to myself on it and have to face that “thats business”- I cant stand the idea of some people going home to thier families and have to tell the terrible truth – BUT it was highly needed (and the alternative would off course have been worse). But urghh – what a day. Cant even smile thinking about that sales was record for a Wednesday (but we are still lossing about 2-3 average danish yearly salleries pr. day).
Press has been really fair and quite possitive – when you think about how small our country is and that all journalists went to school together (more or less). Its also kind of really weird to see 12-15 journalists and professors and investment bankers having a clear idea about our business (on TV, Online News, Print…) – when they dont even do a deep Deep DEEP dive into what really going on. The paper will very likely be number one very very soon – and we are SUPER HUMBLE – but we will fight with EVERYTHING WE HAVE TO MAKE THIS THING MAKE MONEY. And change the whole business a bit…Read Full Post | Make a Comment ( 1 so far )
Someone asked me what stuff I owned (invested in) that no one knows about and that is super cool.
I have to say that http://www.heathcare.com is supercool just going BIG BIG.
Why its killer: The person
This thing is killer – http://www.openstreetmap.org – people simple build maps from scratch with GPS equipement and entusiasm…
Why its killer: The idea
Nothing beats the team and the quality ad the revenue.
Why its killer: Idea is simple and amasing
Gateway Technology Labs
Simply amasing people – impresse size – and the market demand endless amounts of services like this.
Why its killer: The team! I have never seen anyhing ike hat.
I did invested during summer – lucky again…Read Full Post | Make a Comment ( 1 so far )
Wow I feel lucky – I took over controle of the paper with the management and some of my most admired Danish online entrepanuers (www.freeway.dk – lots of people dont know them – but when you say Dating.dk, Arto.dk, Trendsales.dk, DKBN.dk – everyone knows – they are by far the biggest danish online media company – AND MOST PROFITABLE).
So my trip to Iceland in the weekend was very good – I admire those Baugur guys SO MUCH (had NOTHING 17years ago – and now own 10.000 reatails stores around the world – and take risk!!). They have the BIG balls (sorry Thordis) and they are no bullshit – unlike many of the old money I meet. I have talked to 10-15 old money investors who had given me a note during the last year that they wanted in – but they all had this – “uhh its dangerous…” – Well thats TRUE!!
RISK = RETURN.
(and luck and timing is everything)
As 14y old – I had a paperround with Anders Laursen and saved money for new handball shoes – got up at 5am – and had amasing summermornings singing/screaming silly lovesongs over the fields – and insanely shitty cold depressing winther mornings – so its weird now to be kind of head of 800 paperround guys (and YES its was insanely dificult to make the distribution work – and we have had 2500 people trough the machinery the last 15months – imagine just the sallery paperwork…). But our paperrond guys are KEY to this investment – going to +300.000 homes every morning in selected districts – its a killer (let me know if you want us to bring a leaflet or something interesting with the paper – parfume sample, bio chessnuts or whatver.. – We are in business to make PROFIT – just to let you know…
We are bringing out a REAL PAPER – (not just a writeoff from the Reuters newsfeed) – done by real top dog journalists – and again backed up by a hardcore sales team. and Yes – its a business doing more revenue then I would ever have expected to see pr day – AND USING LOTS OF CASH – but then again – here in Denmark we dont buy our houses in cash – its normally 20-30year loans – and if you do that same math you probobly see where Im going… 15month to become the second most read paper – even most read in the 3 largest cities – and not only traveling youth (like Metro) also THE KEY DESICION MAKERS OF THIS WORLD: Female, Mothers and Housewifes – where we have the BY FAR best reader numbers. I could go on – Im fired up …
But the fact is that this business is booming and with BIG FOCUS ON DELIVERING A PERFECT – STATE OF THE ART – SECOND TO NONE PRODUCT TO ADVERTISERS – we will make a good business. NOTE: If you know a guy in a MEDIA AGENCY – please tell him my number – they are the key (and our board will reflect that) – and they have already started booking campains in the paper (but not enough) – and we will do a lot to prove that we are not JUST A FREE TRAFIC PAPER (Metro style) – but a QUALITY PAPER and DISTIBUTION SERVICE (not just a old folks subscrition journal, 250y old – Why ?
(in my humble opinion – TV and Subscribtion papers are getting even more unpopulair then even Gorge Bush).
Dear Valued reader – sorry to write such a long post – but today is a bit special – and Im got darn nervous about all the media attention (not the business – since Svenn and Morten (and the new board) are pure, smart, humble hardworkers – with sports mentatlity (and all so fucking slim – makes me look even more choppy (narcicist I am) – and they will be figthing this no matter what will hit us – and I just provide a bit of cash, a little netwok and a couple of IDEAS. Cant wait…
My Danish Press Release
Morten Lund overtager aktiemajoriteten i Nyhedsavisen
”Jeg føler mig meget heldig over at have fået chancen for at stå i spidsen for Nyhedsavisen. Jeg har hele tiden troet på ideen bag Nyhedsavisen, og har på nærmeste hold fulgt avisens udvikling. Den blev dømt ude og færdig allerede inden den var på gaden, men i dag er Nyhedsavisen et trin fra at blive Danmarks mest læste avis. Men det er ikke kun læserne, der har taget godt imod avisen, måned for måned er annonceindtægterne steget og de stiger nu markant, og distributionen af avisen fungerer upåklageligt.
Så Nyhedsavisen er kommet for at blive. Nu gælder det om at bringe avisen det afgørende skridt videre, og det vil jeg gøre i samarbejde med de nuværende investorer – som jeg beundrer for deres vilje og evne til at tænke nyt – og en række nye partnere – Freeway og ledelsesgruppen på Nyhedsavisen som selv har puttet penge i. Næste skridt bliver præsentationen af en strategiplan for udviklingen af Nyhedsavisen i de kommende år.
Jeg er vild med at flere igen læser aviser, og den udvikling tror jeg vil fortsætte. Men hvorfor skal det koste penge at læse en avis? Jeg har været med til at ændre tankegangen i en række andre brancher og glæder mig nu til for alvor at være med i udviklingen af Nyhedsavisen.”
Freeway er Danmarks førende virksomhed indenfor online medier og ejer og driver blandt andet dating.dk, arto.dk og denmarkbynight.dk.
Ledelsesgruppen på Nyhedsavisen består af administrerende direktør Svenn Dam, chefredaktør David Trads, salgsdirektør Morten Nissen og CFO Lars Lindstrøm
Morten Lund er dansk iværksætter. Han har i dag investeringer i mere end 85 selskaber verden over. Blandt andre den kinesiske browser Maxthon med 100 millioner downloads, Orolix, der er Brasiliens hurtigst voksende online-virksomhed og Zecco.com, der er en amerikansk gebyrfri online børshandel.
Morten Lund er tillige medlem af tidligere præsident Bill Clintons Global Initiative, CGI.
Fay Helene Mogensen
Press release from Baugur
(the majority owner until yesterday)
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Morten Lund buys 51 per centstake in Dagsbrun
Morten Lund is pleased to announce he has acquired a 51 per cent stake in Dagsbrun Media, which owns the Danish newspaper Nyhedsavisen, from Baugur Group, the Icelandic investment firm.
Under the deal, Mr Lund is upping is stake and injecting working capital.
The move comes 15 months after Baugur controlled Dagsbrun launched Nyhedsavisen and comes after the free news paper has made impressive progress in terms of distribution, readership and advertising revenues. Within 12 months of its launch in October 2006, it over took the established paid-for titles and rival free sheets to become the most read daily newspaper in Denmark. It is on course to break even in November this year.
Since launch, sales growth and advertising revenues have risen in line with targets month on month and in the past quarter targets have been broken, enabling the team to make up some of the ground lost to delays before publication began.
Mr Lund said: “This is an exciting opportunity. Media across the world is undergoing a revolution and Nyhedsavisen is part of that. People said a free sheet in Denmark wouldn’t work, and ours has. Now we have proved that we will take it on to the next phase.”
Thordis Sigurdardottir, Baugur managing director of media, said: “It was always our intention to bring in new investors and now is the right time. Morten has been in from the start and although we had approaches from a number of potential investors we believe he is the best person to take control. We look forward to working with him to take Nyhedsavisen to the next level..”
She added that Baugur would remain a substantial shareholder and continue to be represented on the Dagsbrun board.
I here to meet with my fantastic partner Tariq Shaikh. He is one of my very most smart and interesting partners – and his for the last 14months been setting up a very special private equity company – something I cant really go deeper into – but you can see on the website and beneath. Its a really REALY big idea – and very hard for my micro patience – but I cant wait until we can tell more…
“RHT Partners is a private equity firm that brings together top calibre investment management professionals, entrepreneurs and prominent financial backers from Europe, the Middle East and the US in a firm dedicated to creating value through carefully considered investments in selected industry sectors. RHT’s values are grounded in high ethics and its investment decisions focussed on generating industry leading returns.”
I have spend most of my time with Tariq – and he also introduced me to some of the real Dubai natives (whom you NEVER MEET) – and I must say I have been extremely positivly impressed and suprsed how much energy and power and vision – there is behind this GROWTH EMPIRES PEOPLE!Read Full Post | Make a Comment ( 8 so far )
I have been in love with this joke – and all the irony and the spot on selfironic jokes about the ventures business.. But darn – Gary lost it this year ;( – or maybe there is just no more to say…
See this Christmas episodeRead Full Post | Make a Comment ( None so far )
STATEMENT: I FEEL SO LUCKY
But I do wonder quite a bit about how networks and circles starts and goes on. Le Web 3 – makes me first wonder: “How the fuck did I get on stage again (after Mountain Partners, Sime (fantastic), TechTour (no good)…) – since I dont really have anything to say – specially since I cant tell my secrets and where I expect to make the next 100mio). Well I really try to be direct – and no bullshit (but then again full of it) and as honest as posible. But the I start thinking about the full circus – Lois, Martin, Danny, Tariq, Ola, Mygdal… And wow – its a closed loop – and maybe we are already a part of an old boys network in some form. And Im sitting of a loose mandate – so I can be kicked out any day – and I know Loic is busy doing his startup (Seesmic) – so he probobly havent been thinking about it every day… BUT what I want to say it – that I really hope to meet new and fresh people at Le Web 3 (attendend list in the end of site).
One Guy is missing
- there is a secret SUPERSTAR VC in Europe – Henrik Albertsen from Nordic.com – is the best these days – but keeps too low profile. A risktaker and a sales mann.Read Full Post | Make a Comment ( 2 so far )
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