Former Hartbeat CEO Thai Randolph Acquires BuzzFeed Channels to Launch Nile & Co.
Thai Randolph, the former CEO of Kevin Hart's Hartbeat, has launched her new venture, Nile & Co., by acquiring two inactive BuzzFeed channels: As/Is and Goodful. Purchased for $500,000 at a reported loss for BuzzFeed, these properties serve as the foundation for Randolph's strategy to build creator brands without the burden of constant celebrity promotion. Nile & Co. aims to revitalize the channels' combined 40 million social media followers while co-founding companies with athletes and celebrities, offering them equity and handling advertising through the acquired platforms. The company also partners with BuzzFeed to develop content for Black, Latino, and Asian-American cultures. With key hires including former BuzzFeed CMO Melinda Lee, Randolph plans to relaunch As/Is as a platform for successful women and expand Goodful to cover wellness and wealth intersections, addressing the saturation and risks associated with traditional influencer-fronted businesses.
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Former Hartbeat CEO Thai Randolph Acquires BuzzFeed Channels to Launch Nile & Co.
Thai Randolph, the former CEO of Kevin Hart's Hartbeat, has launched her new venture, Nile & Co., by acquiring two inactive BuzzFeed channels: As/Is and Goodful. Purchased for $500,000 at a reported loss for BuzzFeed, these properties serve as the foundation for Randolph's strategy to build creator brands without the burden of constant celebrity promotion. Nile & Co. aims to revitalize the channels' combined 40 million social media followers while co-founding companies with athletes and celebrities, offering them equity and handling advertising through the acquired platforms. The company also partners with BuzzFeed to develop content for Black, Latino, and Asian-American cultures. With key hires including former BuzzFeed CMO Melinda Lee, Randolph plans to relaunch As/Is as a platform for successful women and expand Goodful to cover wellness and wealth intersections, addressing the saturation and risks associated with traditional influencer-fronted businesses.
WSJ.com: US Business