SoFi Stadium Subscriber Dismissal

Austin Rief shares a story about Morning Brew's failed acquisition pitch to SoFi.

"Alex and I were talking about this last night. We pitched SoFi and the CEO at the time was formerly the CEO or COO of Twitter, Anthony Noto. He really liked us, or at least liked the business. We pitched a group of executives at SoFi over Zoom during COVID.

I said to Alex, 'This is our pitch, this is our moment. We're gonna sell for hundreds of millions, we're gonna get all this stock in SoFi.' It was going crazy. We pitched them for fifteen minutes, and the woman, I'm not kidding, deadpans, looks at Alex and goes, 'I don't get it.' I'm like, 'Which part?' And she's like, 'Why would we buy you guys? I don't get the whole thing.'

I explained, 'Well, content to commerce, we have an audience...' And the head of business development flips the background of his screen and shows SoFi Stadium. He goes, '300 million eyeballs a year.' I'm like, 'What?' He goes, 'That's how many people see this stadium. You think we want 3 million emails? What are we gonna do with 3 million emails?' And that was the entire call."