BET to Buy WorldstarHipHop For $100 Million!

BET to Buy WorldstarHipHop For $100 Million!

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Wow! This is gargantuan news for both WorldStarHipHop & BET!

WorldStarHipHop is one of the world’s most controversial websites. It is best known for aggregating & featuring videos that have gained popularity for all of the wrong reasons (fighting, violence, etc.). With that said, the site is adorned by many, and it receives millions of unique visits on a daily basis. WorldStarHipHop has its fair share of critics, but in fairness, it also has its fans. Millions of them.

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BET, Viacom & their private equity partner Cross Culture Ventures are clearly fans of WorldStarHipHop! WorldStarHipHop has become an acquisition target and the investment cohort is willing to pay $60 – $100 Million according to our sources. There is a clear & persistent buying appetite in the Media & Entertainment space as companies continue to expand their customer reach in the age of social media. Last week, Verizon and its private equity partners structured a deal worth $250 – $300 million to purchase Complex Media. That deal eventually fell through, but its a clear indication of appetitive in the Media & Entertainment space as well as the current valuations that firms are willing to pay.

WorldStarHipHop was founded in 2005 by founder Lee “Q” O’denat. He was brainstorming  website ideas and was inspired by his observation that everyone he encountered during his world travels had an unyielding love for Hip Hop. Hence the name WorldStarHipHop. O’denat started the company with $40 and currently has 5 employees. O’denat is a Haitian immigrant and considers himself a “black nerd.” He can now change that title to “Rich Black Nerd.”

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