Ep 380 How Kyle Scott Went From a Broke Philadelphia Sports Blogger Into a $12 Million Payday - Affiliate marketing, monetizing your audience, SEO vs. readability, merging with a competitor, achieving an earn-out.

<p class="MsoNormal"><span style= "font-size: 10.0pt; line-height: 107%; color: windowtext;">Kyle Scott launched Crossing Broad, a Philadelphia sports blog, in 2009. His irreverent and edgy writing style gained a significant following among Philly sports fans, resulting in thousands of daily readers. However, it wasn't until the 2018 Supreme Court ruling lifted the ban on sports betting in the US that the business flourished.</span></p> <p class="MsoNormal"><span lang="EN-US" style= "font-size: 10.0pt; line-height: 107%; color: windowtext; mso-ansi-language: EN-US;" xml:lang="EN-US">To capitalize on the ruling, Scott merged</span> <span style= "font-size: 10.0pt; line-height: 107%; color: windowtext;">Crossing Broad with Warwick Gaming into CBWG, which owned and operated several popular sports and gambling websites. The company instantly became the largest independently owned US sports betting affiliate marketing network, generating $5 million in annual revenue. </span></p> <p><span style= "font-size: 10.0pt; line-height: 107%; font-family: 'Open Sans',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-CA; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"> In 2020, Ten months after joining forces, XLMedia acquired CBWG for $12 million in cash, $8 million worth of XLMedia shares, and the potential for another $9.5 million tied to a three-year earn-out.</span></p>