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What kind of money did you get from your sale of the poker db or whatever it was to BluffMedia?
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I owned 50% of thepokerdb.
My business partner (
graydot) who I co-founded the site with took cash in the form of 36 monthly payments. I won't say the amount because it's his business and I shouldn't reveal that info without his permission.
I took three things.
1. A minority equity share in BLUFF media, which is a number of different things other than BLUFF magazine. My equity is small and is in the single digits.
2. A revenue share of the db subscriptions.
3. A revenue share of online ads.
Why did I do that?
Well, for one, the equity share diversified my interests. While I'm still heavy with regards to poker, I'm not as heavily concentrated in one area.
Secondly, graydot had kinda reached his capacity for helping me to run the site and we were being overwhelmed with issues. It's pretty hard to keep a site like that running smoothly and even BLUFF, with a team of 3 full-time developers, still has trouble with it sometimes today. I wanted that type of support and help for the site to make it better and I think we've done that.
Thirdly, being a part of BLUFF opens up the door for me to a lot of other things. I got all sorts of access to things at the WSOP this summer because of BLUFF ... all of which are things I would not have been able to do without being a part of a big poker media organization.
Let me know if you want more detail on the reasoning behind the deal.