UFC's $2M Purchase Journey
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A story about how Dana White and the Fertitta brothers turned around the UFC from near bankruptcy to massive success.
"The UFC was going bankrupt. Dana White and the Fertitta brothers came in and bought it for $2 million. Then they burned another 40 or 50 million trying to make it successful at a loss before it finally turned around.
They put in years, millions of dollars, and expertise at promotion, willing to run through walls to make it happen. They went state by state to get this thing licensed so they could host events. Then they had to figure out how to sell tickets. Once they sold tickets, they had to get this thing on TV. Once it got on TV, they had to build these characters and storylines by investing in documentaries and reality TV shows.
Before smartphones were even a thing, Dana used to give his fighters flip cams - these video cameras that looked almost like an iPhone looks now. He told them 'Hey everyone, we're having a meeting. Here's your flip cam, record everything you do and post it.' He was one of the first guys to do that because no mainstream channel would let him in. Now they're on ESPN, but it took 20 years to get there as a sport - that's how crazy this was."
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.