Tuesday, October 18, 2016 9:16:30 AM
Another company founded by Jim Heckman purchased by Yahoo...
From Wikipedia, the free encyclopedia.
Rivals.com is a network of websites that focus mainly on college football and basketball recruiting. The network was started in 1998 and currently employs more than 300 personnel.[3]
Rivals.com was originally founded in 1998 by Jim Heckman in Seattle, Washington, with a cadre of outside investors.[4] Heckman was once the son-in-law of Don James, the former head football coach at the University of Washington, where Heckman attended school and was later involved in a recruiting scandal.[5] Initial deriving revenue solely from advertising, Rivals.com later employed a subscription fee of $10.00 per month to users for access to the latest recruiting news and to participate in various message boards dedicated to schools covered by the network. Rivals was funded by money from venture capital firms including the venture funds of Fox and Intel.
Rivals acquired AllianceSports, a regional network that primarily covered college sports in the Southeast of the United States, in January 2000.[6] At its peak, Rivals.com employed close to 200 people, operated a network of 700 independent websites, filed for an initial public offering worth $100 million led by Goldman Sachs, and sponsored the Hula Bowl in Hawaii.[7] However, economic troubles and the collapse of the dot-com "bubble" soon led the Rivals Network, the parent company of Rivals.com, to cease operations in 2001, though it never sought bankruptcy protection.[7] Executives from AllianceSports purchased the Rivals.com assets and subsequently relaunched the website.[8] Heckman, who had been fired as chief executive officer, later started a competitor network initially named The Insiders, later renamed Scout.com[8] and sold to Fox Interactive Media in 2005 for a reported $60 million.[9]
Led by former AllianceSports executive Shannon Terry, Rivals.com became profitable. On June 21, 2007, Yahoo! agreed to acquire Rivals.com.[10][11] Terms of the deal were not disclosed, but several sources reported Yahoo! paid around $100 million.[12]
Rivals subscribers automatically have their subscription renewed for a term equal to the original term upon expiration of the then-current term, and continually thereafter, unless the Subscriber terminates the subscription by phone at least 48 hours prior to the renewal date.[citation needed]
https://en.wikipedia.org/wiki/Rivals.com
Recent AREN News
- SURFER Announces Partnership With 2024 Big Wave Challenge • Business Wire • 04/29/2024 02:54:00 PM
- SURFER Announces New Editor-in-Chief, Special Edition Print Magazine • Business Wire • 04/23/2024 11:00:00 AM
- The Arena Group Appoints Sara Silverstein as Chief Executive Officer • Business Wire • 04/22/2024 11:00:00 AM
- The Arena Group to Host Investor Update Call on Tuesday April 9 • Business Wire • 04/03/2024 12:00:00 PM
- Manoj Bhargava Invests $12 Million More in The Arena Group • Business Wire • 02/14/2024 11:25:00 PM
- The Arena Group Announces Workforce Reductions in Strategic Move to Transform the Business Model • Business Wire • 01/18/2024 06:30:00 PM
- The Arena Group Announces Termination Of CEO Ross Levinsohn, Appoints Manoj Bhargava As Interim CEO • Business Wire • 12/11/2023 09:30:00 PM
- Deion “Coach Prime” Sanders Named 2023 Sports Illustrated Sportsperson of the Year • Business Wire • 11/30/2023 02:00:00 PM
- The Arena Group Reports Third Quarter 2023 Financial Results; Advances Bridge Media Acquisition • Business Wire • 11/14/2023 09:06:00 PM
- The Arena Group to Host Third Quarter 2023 Financial Results Conference Call on Tuesday, November 14 • Business Wire • 11/08/2023 02:14:00 PM
- The Arena Group Signs Definitive Agreement to Combine with Bridge Media Networks • Business Wire • 11/06/2023 01:00:00 PM
- The Arena Group Names Katie Kulik as Chief Revenue Officer to Drive Growth and Innovation • Business Wire • 11/02/2023 02:27:00 PM
- POWDER Magazine Returns With Special Print Edition; 2023-24 Photo Annual Issue Now Available • Business Wire • 10/16/2023 08:05:00 PM
- Jimmy Butler Guest Edits Sports Illustrated NBA Preview • Business Wire • 10/11/2023 02:08:00 PM
- TheStreet and Roundtable Media Partner to Launch New Crypto Channel, Expert Network • Business Wire • 10/05/2023 01:00:00 PM
- The Arena Group Launches ‘Arena Creator Network:’ A Creator-Led Cultural Content Hub Powered by Iconic Brands for Unmatched Social Branded Opportunities • Business Wire • 09/07/2023 06:05:00 PM
- The Arena Group to Participate in Lake Street Capital Markets’ Annual Best Ideas Growth Conference on September 14 • Business Wire • 09/06/2023 12:00:00 PM
- The Arena Group Names Grady Tripp as Senior Vice President of People • Business Wire • 08/18/2023 08:00:00 PM
- The Arena Group Signs Binding LOI to Combine with Bridge Media Networks, Creating Diversified Media Leader • Business Wire • 08/14/2023 08:15:00 PM
- The Arena Group Reports Second Quarter 2023 Financial Results; Announces Strategic Expansion and a Three-Year Extension of its Debt Facility • Business Wire • 08/14/2023 08:06:00 PM
- The Arena Group to Host Second Quarter 2023 Financial Results Conference Call on Monday, August 14 • Business Wire • 08/08/2023 10:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/07/2023 03:51:11 PM
- Sports Illustrated Presents Inaugural Power List: 50 Most Influential Figures in Sports • Business Wire • 07/13/2023 01:00:00 PM
- First-of-its-Kind App, TheStreet Powered by Tornado, Launches One-Stop Investing Experience • Business Wire • 07/12/2023 01:00:00 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 07/10/2023 07:31:26 PM
FEATURED Cannabix Technologies Launches New Compact Breath Logix Workplace Series and Prepares for Delivery to South Africa • May 7, 2024 8:51 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM