Hello Sunshine's $900M Exit
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A story about Reese Witherspoon's media company Hello Sunshine and its massive success.
"Reese Witherspoon created shows like The Morning Show for Apple TV+ and Big Little Lies for HBO. She sold her entertainment company to Candle Media, which is basically Disney execs backed by Blackstone, for $900 million.
Her company generated $120 million in 2021, and they expected to double it to $310 million in 2022. She creates shows around women - that's her shtick.
What's interesting is she also has this book club with 2 million followers. She promotes her favorite books, but then goes to those authors and says 'Hey, I'm about to blow your book up, but I also want the option rights to make a show out of your book.' She market tests the books with her book club, makes money there, uses that leverage to get the rights to make shows, then sells the show rights."
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.