💰 $25k or $5M?

This is Bagel Bots.

A weekly AI newsletter that has 9,200 subscribers.

The owner of the newsletter, Adam Greenbaum, was offered $25,000 for it.

He’s not selling it… here is why…

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He thinks he can get $5M for it (and yes, that’s million)

Check out this tweet:

Here is the kicker… he was initially offered $15,000 for it.

The $25k is roughly $0.37 per subscriber, which is low.

I’ve seen newsletters sell for as much as $2.00 per subscriber.

But regardless… a newsletter business ready to be sold is huge and confirms I’m in the right business for building something passively and able to get rid of it when I want for a sweet profit.

And that is the game… make more money than you are spending.

When I was buying and selling niche sites, this was a routine thing. Build the site, get it making money, unload it before it peaks.

Newsletters are the new blogging.

And that is why Adam is not selling. He wants more.

I have my own thoughts on this as I like to sell sooner rather than later, but this situation is different. Adam is not dependent on an “algorithm” like niche sites are/were.

The list is the list. It’s yours regardless; even if Google ignored the domain, you can move to another one. (just be sure to warm-up the email.)

Newsletters are perpetual money machines.

• You invest money to grow the list

• You get bigger brand deals because of the bigger list

• The valuation of the newsletter gets bigger

At some point, you either take the money and run or do the cycle over again.

Adam thinks he can grow it to $5M, which would be about $150,000 per month.

Is it possible? For sure… will it happen? Not sure.

Maybe I have my eyes on small potatoes, but I’d take a $25,000 payday pretty quickly and reinvest it into another newsletter.

In the worst case, get the newsletter for a $1M valuation and have a 7-figure exit.

I’m so bullish on this newsletter space it’s not even funny…

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Chat soon,
Chris Myles