Acquisition of Snacker.News
Posted on January 8, 2016
Description:
I have the opportunity to make my first media acquisition. Josh Yaganeh, the creator of Snacker.News is interested in forming a partnership and I’ve convinced him to let me come on as a majority owner. Snacker.News is a collaborative news aggregator about snacks. I’ve been a long time user of the site and I see the potential to move it from hobby side-project to acting as a hub for various food-related enterprises (like our own Is This A Sandwich?).
As we’ve been engaging in the Sandwich Theory culture we’ve become aware of the emerging internet genre ’snackcore’ (see twitter). In the same way Sandwich Theory has maintained a long-standing interest (and exploded into pop culture) among the internet peoples there is an affinity to pizza, candy, tacos, and snack foods that I share and I think Snacker.News is the perfect project to pursue that interest.
The exact terms are still being negotiated but it has been agreed that I will take a majority stake in Snacker.News and Josh Yaganeh will stay on and support the technical side. We have already discussed the arrangement with our legal counsel who have advised that Josh Yaganeh assign the rights of his invention over to me, and then we will incorporate Snacker.News.
This proposal, starting with this media acquisition, is the beginning of a much more ambitious plan: building a snack media empire, which would encompass partnerships, acquisitions, and new projects. I’ve been scouting projects and talent and will work to build a profitable vertically-integrated media empire (about snacks).
Discussions have been underway for some time but in order to move forward in good faith with the negotiations I need shareholder approval. Shareholders should note that operational costs (hosting, Facebook ads, etc.) of Snacker.News will be covered by KmikeyM funds and that all profits from Snacker.News (advertising, sponsorships, selling equity stake) will go back to KmikeyM funds. Josh Yaganeh will be granted shares of KmikeyM in exchange for giving up majority stake in his venture. Rest assured I will pursue an aggressive deal.
