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Published · transcript-backed

Speaker unverified: prediction

30 Aug 2021 Acquired Kevin Rose from Web 2.0 to Web3

“When we started Revision3, the thinking there was that video was working online.”

— Speaker unverified

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Speaker
Speaker unverified
Attribution
Not verified from this transcript
Claim type
prediction
Recorded
30 Aug 2021
Publisher
Acquired

Transcript context

…It's amazing how long these things stick. All right. Thesis with Revision3 though, there's a very clear and loud part of Twitter today talking about the creator economy and beating the drum that this is the next emergent thing. David and I feel like we've experienced it firsthand. You've been experiencing it through multiple generations of the web. Did you have a thesis in starting about the web on the internet as this new direct way to reach consumers? Yeah, absolutely. When we started Revision3, the thinking there was that video was working online. It was starting to take off and people could consume and watch video content. It was easy to produce on our side. We could have some kind of mid-range cameras and gear, an editor that we would just pay part-time. We could churn that out. If we got enough people interested and excited, there would be brands that wanted to sponsor it. That ended up being true. We had an ad sales team. We had a network of shows. Revision3 grew pretty quickly because people were starting to tune in. We found that niche audiences were quite large. When they would talk to each other and use the internet to share that this type of content was out there, we didn't have to rely upon these distribution agreements of these big old school television networks to get viewership. We could actually measure it in a much more accurate way. That's what started Revision3. That went on for many years and actually had a great outcome. It was sold to Discovery Networks for $35 million. Even though that sounds small these days, at the time it was a big deal. It became Discovery Network’s digital arm. Basically, it was all about traditional media. For them to get into digital, it's given them a handful of folks that could come and lead that effort on the digital side. It was pretty cool. That's great. At what point did you realize the flywheel effect of having a media stream with Diggnation and other ways that you're reaching people and being the founder of Digg, like having this Web 2.0 property?…

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