Friday, August 12, 2022

How 27-Year-Old Bootstrapped Founder Daniella Pierson Nabbed A $220 Million Net Worth

Daniella Pierson, who founded women-focused newsletter company The Newsette when she was 19, is now one of the wealthiest women of color in the U.S. And, at age 27, she's younger than just about any self-made female entrepreneur with a nine figure fortune

She's worth a jaw-dropping
$220 million, and this is largely from bootstrapping her media company. Pierson, who turned 27 just last week, is ten months younger than Lucy Guo, the richest under 30 BIPOC woman on Forbes' 2022 list of America's Richest Self-Made Women

A Latinx founder, Pierson built
The Newsette from nothing to $40 million in revenues and profits of at least $10 million last year, she says. Two weeks ago she sold a small stake in The Newsette to an investor in a transaction that values the company at $200 million. It's the first outside money she's taken (besides a $15,000 loan from her parents, which she repaid), and she remains the company's majority shareholder. She also cofounded mental health media company Wondermind with Selena Gomez and Mandy Teefey (Gomez's mother), which just nabbed a $100 million valuation.

Read the full story on how Pierson became a $220 million woman
here.



Alexandra Sternlicht

Alexandra Sternlicht

Reporter, Under 30

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This Week's Money Moves

In the notoriously frothy and notoriously male cloud industry, these are the top women CEOs. (Forbes)

LinkedIn profiles indicate
300 current TikTok and ByteDance employees used to work for Chinese state media—and some still do. Yikes. (Forbes)

'Meeting doomsday' and '
calendar bankruptcy': how leaders are battling meeting overload. (Forbes)

Black female-founded SaaS startup
Stimulus closed an oversubscribed $2.5 million seed round. (TechCrunch)

The SEC is investigating
meme stock hedge fund Melvin Capital Management, which lost $6.8 billion in January 2021. (Wall Street Journal)

This is how the hottest
VC-backed cloud companies are prepping for the funding winter. (Forbes)

Relatedly, learn the strategy $5.6 billion cloud company
Fivetran employed to acquire its way to survival. (Forbes)

Why Steve Jobs chose
Issay Miyake's turtlenecks (New York Times)

Professionals pursuing that 'just right' look for
LinkedIn profiles are tapping high-end headshot photographers, sometimes for $1,000 a pop. (Wall Street Journal)

Seven investors discuss why
edtech startups must go back to basics to survive. (TechCrunch)

Kim Kardashian on how she made
Skims panties, and brought the company to a reported $3.2 billion valuation. (New York)

With resignations of Pinterest cofounder
Ben Silbermann, Airbnb cofounder Joe Gebbia and Instacart founder Apoorva Mehta, is it goodbye boy boss? (New York Times)

Also, this is a great listen on how a group of
teen boys' gaming montage YouTube uploads became Nasdaq-listed $1 billion-plus company FaZe Clan. (Wall Street Journal via Spotify)

Inside Scoop: When Neil Patrick Harris Joins The Board

By Anthony Tellez

There's no business like show business. And these days much of the business leans on cutting-edge technology and special effects to create worlds and visuals unimaginable to audiences just a few years back. 

But behind the scenes, show business can be shockingly analog. While on crew for Disney's hit
The Mandalorian Greg Kufera and Herman Phillips were surprised how the high-tech, sci-fi production was organized by a back office straight out of Office Space. Workers even had to fill out carbon copy timesheets in order to get paid. This inspired the two to start Cinapse as an alternative. "There's a stark contrast between the magical advanced technology that's being used for what's on camera and how managing labor and operations is still done on paper. It was a very apparent problem that we decided we need to address," says Cinapse COO Phillips. 

Both founders made it on our
Forbes 2022 30 Under 30 list after rolling out their Cinapse software which has raised $2.5 million to bring workflow for film and television production to the 21st century. Most recently, the film tech startup announced that Emmy award-winning actor Neil Patrick Harris had invested and will be joining its advisory board. "Making a film or television show takes a village, so it's important for us to have representatives from each facet of production involved in our decision making," says CEO Kufera. "​​This industry, on one hand really channels the passion of everybody in it, which makes it beautiful, but on the other hand, people work really hard and what we're trying to do is enable those passions."





 
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