They Got Acquired - 500k subs & 7 figs in revenue

March 4, 2025
​Read on web​

This week we launched a new report 🙌

​13 Content & Media Deals​

It's free!

Hundreds of TGA readers have already downloaded it to learn more about how these founders sold their business. Join them!

Speaking of content deals, here's today's story...

An AI newsletter with 500k subscribers sold a few weeks ago.

We've got the details of how it happened!

✉️ Which AI newsletter? The Neuron.

It's the one branded with cats instead of robots 🐈

🙋🏼 Founders: Noah Edelman and Pete Huang.

Noah was still in college when he sold the business!

🔥 On their growth: The Neuron grew to 500,000 subscribers in just 2 years.

They gained their first 100,000 subscribers largely through Huang’s posts on LinkedIn.

Then they relied on a tried-and-true playbook for newsletter subscriber growth: reinvesting sponsorship dollars into paid social ads.

😜 Why they stood out: The Neuron succeeded largely because of — ironically — its human touch.

The newsletter shares developments in AI in a fun, playful voice.

🤑 How they monetized all those subscribers: Through advertising in the newsletter.

They grew to low 7 figures in revenue.

It's a simple model that's incredibly effective in a hot space like AI where lots of players want to reach this audience.

💰 How they sold: Edelman reached out to an M&A advisor asking for help selling the business.

In an interesting twist, the advisory said the newsletter was too small for them, but put them in touch directly with a company they knew wanted to buy media brands like this one.

🤖 Who's the buyer? A tech media publisher, TechnologyAdvice.

The firm owns a portfolio of about 20 content brands in tech.

💵 Details on the deal: It closed in January 2025.

The dollar amount was not disclosed, but we know it included an earn out.

Read our full story for more context:

​This AI newsletter grew to 500,000 subscribers with the help of — ironically — a human touch​

🔵 FAQ: What to expect from an M&A advisor

Sometimes we have sponsors in this space. And other times, we point you toward TGA benefits instead.

🔵 This week's newsletter and our newest report is brought to you by our M&A advisor network.

We'll match you with an M&A advisor who has experience selling your type of business.

Best of all, this service is free for founders.

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One of our goals at TGA is to demystify the sale process.

So here are a few of the most common questions we get about brokers.

Is a broker the same thing as an advisor?

Generally, yes. While founders tend to be most familiar with the term "broker," most brokerage firms prefer to be called "advisors."

What should an M&A advisor do for me?

1) Identify buyers and 2) Help you navigate the full sale process, including negotiating sale price & ensuring you avoid common mistakes.

How much do brokers charge?

We just wrote a whole post about this!

Most charge a success fee, or a commission that's a percentage of the sale price when you close on the deal. Some advisors also charge a retainer leading up to the sale.

Do I really need an M&A advisor?

Maybe, and maybe not! It depends on your goals, the size of your business, and a few other factors. We're happy to talk you through it.

If you choose *not* to work with an advisor, here are some tips on selling a business without a broker.

How should I find an M&A advisor I can trust?

Ask us for a suggestion! We have a short list of vetted advisors, and we'll match you with one who has experience selling your type of company.

Have you considered the opportunity costs of holding onto your business? 🤔

When social media agency founder Jodie Cook sold her business, the payout was a big factor.

But she was also aware of the opportunity costs of continuing to run her first company.

Opportunity costs like...

• Tying your time, effort, brain space and even identity to a business that no longer serves you
• Waiting to go all-in on your next venture
• Delaying growing into the next best version of yourself

Of course, if you're not yet ready to sell, that's always OK.

But sometimes thinking about it this way offers a change in perspective.

Read more from Jodie:

​Holding off on selling your business? Consider these 5 opportunity costs​

See you next time,

Lexi Grant
Founder & CEO
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​I had two "small" exits and didn't know where to find support. That's why I created They Got Acquired.

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P.S. Why is it important to have realistic expectations for your sale? I offered a few ideas on LinkedIn.​