Stereogum’s Worth? A Bubblicious $5 Million

Dec 7th, 2007 // 7 Comments

gum.jpgThe owners of indiecentric blog Stereogum–founder Scott Lapatine, ex-AOL head Bob Pittman, and former MTV digital guru Jason Hirschhorn–have flipped their equity stakes in the site to the music-centric social-networking service Buzznet; in exchange, the three men will get an ownership stake in Buzznet. According to the New York Post, the deal places Stereogum’s value at $5 million, a dollar amount that should send some of the more careerist bloggers out there scrambling to recheck their SiteMeter logs. Me? I just can’t wait to see how the ‘Gum’s pop-averse readership will react to their gathering place being so close to a site that is currently featuring High School Musical starlet Ashley Tisdale on its homepage.

PITTMAN FLIPS STAKE [NYP]

  1. Nicolars

    $5 million? Talk about fools and their money…

  2. the rich girls are weeping

    Ladies and gentlemen, “music blogging” is now officially O-V-E-R. Move along, nothing to see here.

  3. gregcoff

    Maybe now they can afford a word processor with a spellcheck function.

  4. jt.ramsay

    I just love that they’re spending the internet funny money on a social network that’s been around for years and no one has heard of before now. Holy MOLI, right?

  5. Trackback

    Stereogum for make sell $5 million dollar for people make own…but still suck.Also, Buzznet also suck. Who use Buzznet?FUUUUUCK. Gerardblog worth $5. Who want? Gerard want stock in bad website too!

  6. Jfrankparnell

    Let’s party like it’s 1998

  7. Anonymous

    Yeah, Stereogum ain’t worth a cent. You’re so much better, Idolator!

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