Michael Cyger sells Brew.com in cash and equity deal.
Michael Cyger of DNAcademy has sold the domain name Brew.com to the team behind BuyMeACoffee.com, which is a sort of tip-a-creator service. Here’s co-founder Jijo Sunny mentioning the acquisition on Twitter:
1/ 👋 Excited to share what we’ve been building at https://t.co/GOQJ7LjQ2t + we are going to tweetstorm our progress every week!
— Jijo Sunny ☕ (@JijoSunny) November 6, 2018
Cyger had been using BuyMeACoffee on his website. As Sunny describes it, a deal quickly transpired from there:
It started with a cold email. Guess what? He was using BuyMeACoffee on his blog, and was excited to hear about what we’re building next. Within 2w, we signed the deal at @Escrowcom’s SF office. You’re a pleasure to work with @MichaelCyger!
Cyger told DNW:
I actually read about Buy Me A Coffee on HackerNews in February and thought their design and implementation was elegantly simple and beautiful. So I signed up for an account to check it out, and then integrated the Buy Me A Coffee button on the public blog of DNAcademy to see how it worked. So far, about 10 people — who are not subscribed to DNAcademy as students — but who appreciate the content I produce — have purchased me a cup of coffee, which I like much more than displaying programmatic ads because it’s cleaner, creates a more direct relationship with readers, and earns more revenue per reader.
While financial terms were not disclosed, Cyger expects the deal to eventually be worth seven figures after the company gains traction. He will join Brew’s Advisory Board.
Cyger met up with the BuyMeACoffee team at Escrow.com’s office to complete the deal (see photo).
The company will not rebrand its BuyMeACoffee.com service as Brew.com. Instead, it’s launching a new site on Brew.com using what it has learned running BuyMeACoffee. Based on Sunny’s tweets, it seems like it will be a type of Patreon service, perhaps providing people with an ad-free subscription to content.