The company behind titles like Revolver and Inked, Project M, has acquired punk rock satire site The Hard Times for over US$1 million (A$1.44m).
The Hard Times founder and CEO Matt Saincome announced the news today.
“So my first company went from $800 to $1m+ without investment. All DIY,” Saincome said.
“I’m excited to work with and learn from Enrique Abeyta (Project M founder/CEO) so that my other entrepreneurial pursuits can do even better!”
Saincome said the acquisition would not affect staff.
“The entire Hard Times team is staying in place. Bill (Conway) remains EIC. I remain founder and CEO.
“We get to keep ownership of Hard Drive. Project M will expand its use of OutVoice.
“We now have the bandwidth and resources to do what we’ve always wanted: more videos, merch, podcasts, etc.”
In true Hard Times style, Saincome expressed how his newfound wealth had gone straight to his head.
“Also: I am now wealthy beyond your wildest dreams.
“Money is simply no object to me. I will not be responding to any tweets that do not begin or end with “sir millionaire punk satirist sir.” Thank you.
Saincome said the deal offered many benefits to the whole team.
“Most of my editorial team had been given chunks of the company, so it’s a payday for whole crew.
“Editors who didn’t own a chunk got bonuses anyways.
“The deal also includes raises for all my freelancers, and healthcare for my FTE.”