There was an error on my post - it should be Levin deals involve companies valued at $10 million dollars. Did it Poolworks with MMEG. Then valued down once I posted that $3 million dollar debt owed from a lawsuit which both Pope and Levin would have been aware of but supposed kept it from the MMEG CEO.
He bought Bebo a few years back and then ended up selling it back for $1 million.
https://www.cnet.com/news/remember-bebo-yeah-thats-why-the-founder-is-killing-the-site/ Levin, who is based in Los Angeles, has invested in varied media and other businesses. Bebo, launched in 2005, was purchased by AOL for more than $850 million in 2008 in what later was described as “one of the worst deals ever made in the dotcom era.” AOL sold Bebo in 2010 to Levin’s Criterion Capital Partners for $10 million. Levin was quoted at the time as saying “the young, highly active user base, revenue history, presence in countries throughout the world and solid technical infrastructure make it an attractive media platform.” Under Levin’s management, the site suffered from technical difficulties and filed for bankruptcy. In May Levin sold it back to its founders for $1 million.
Pixelmags is the same story.
He changes the name of his company every few years.
Also takes a paid advisory fee for these acquisitions.
I’ll have to get active again reporting this stuff. I think this HighTimes deal will be worth the time and effort.
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