Stereogum’s Worth? A Bubblicious $5 Million
The 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]