Parcast's $56M Spotify Exit
Share
A story about how Max Cutler built and sold a successful podcast network called Parcast to Spotify.
"This guy named Max Cutler created Parcast, a podcast network focused on true crime. He and his dad owned the whole company - his dad was in radio as an announcer. They bootstrapped this podcast company, which is unheard of, and sold it to Spotify for $56 million after only maybe 5 years.
They're producing something like 30 or 40 podcast episodes a day, all highly produced stuff. They have shows like 'Serial Killers' and 'Deathbed Confessions.' True crime makes up like 30-40% of top podcast episodes, and it's mostly women who listen to it.
The interesting part is they focused entirely on true crime content with scripted shows and voice actors. They built this into a major success - got the initial $56 million deal plus additional earnout money from Spotify. It's a pretty amazing outcome for a bootstrapped podcast company."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.