Letter from the Editor: Pinkbike’s Next Chapter with Outside
The legendary Photo #1 was uploaded by Radek Burkat many, many years ago.
This is the first photo ever uploaded to Pinkbike. The image of Rob Stevens dropping off a bank in Calgary, Alberta is the perfect representation of what this site has always stood for: riding bikes with your friends and sharing that with the community.
Pinkbike founder Radek Burkat had spent his twenties playing other sports, but it wasn’t until he connected with mountain biking that he found his passion. He knew he’d found a sport he really loved because he was still eager to do it solo, but he did want to share it. He cringes now at how cheesy it sounds, but he started Pinkbike in 1998 to help others connect with mountain biking in the same way he had.
Shaped by those glory days of early freeride, Pinkbike was built by a crew who wanted to share the ride with their friends through photos, videos, and stories—long before social media was a twinkle in Myspace Tom’s bionic eye.
Radek's early days on the bike.
Setting up Pinkbike’s first servers.
A new chapter with Outside.
We’re excited to announce today that Pinkbike has been acquired by Outside, the world’s leading active lifestyle platform. Established in 1977, Outside Magazine was founded by Lawrence Burke, and the publication broke ground on the entire outdoor media industry. Its history is filled with iconic titles, with some of the world’s most talented writers and authentic storytelling.
The new Outside, founded in 2019 by Robin Thurston, acquired Outside Magazine and OutsideTV in February 2021. Headquartered in Boulder, CO, Outside has offices across the US, Canada, in Europe, and now Australia. They own Outside Magazine, OutsideTV, Peloton Magazine, Bicycle Retailer, Beta MTB, GaiaGPS, Roll Massif, BikeReg, Ski Magazine, Warren Miller Films, and many more titles and services. Robin’s vision of bringing all these brands together into one organization is to build a more personalized experience for all active people.
What does this mean for Pinkbike?
Pinkbike’s mission to be the pulse of mountain biking and to share the ride with the global mountain bike community doesn’t change, only now we have more resources and capabilities to take on even bigger and better projects.
Our head office remains in Squamish, BC, and we’re about to move into a brand new office space with way more room to grow. We’ll also have access to new equipment and improved test facilities for more scientific, objective product evaluations.
The entire Pinkbike editorial staff is now part of Outside. Karl and Radek are involved in senior leadership positions, I continue to oversee editorial, and Kaz, Levy, Sarah, Christina, Ben, James, Alicia, Jason, Tom, Other Tom, Henry, Seb, Max, Ed, Devan, Matt, Other Matt, Dan, and the rest of our team are all on board. The Outside team has been incredibly welcoming, and we’re fired up to get some of our new projects off the ground.
 | I’m thrilled to announce that Outside has acquired three of the strongest brands in the cycling category: Pinkbike, CyclingTips, and Trailforks. Today’s additions to the Outside portfolio represent a giant step toward achieving our mission of becoming the world’s leading creator of active living content, experiences, travel, and services. There’s obviously a lot of work ahead of us, so I’m excited to welcome Radek, Karl, and their teams to the Outside family. (read more over on Bicycle Retailer) |
Pinkbike’s content and services have long been paid for with an advertising model, while our new parent company offers some features of their titles in a subscription called Outside+.
Subscribers get digital access to members-only content, exclusive shows, hundreds of virtual health, fitness, cooking, and outdoor classes, free books, personalized, ad-free experiences at Outside Online, a subscription to Gaia GPS, training plans, and discounts on everything from gear to race-entry fees to event photography.
In the coming months we’ll be digging into how Pinkbike can best support the Outside platform and make their offerings even more compelling. While our long term business model will evolve, a significant portion of our content will remain free. We’re thrilled about the ideas on the table already.
A challenge to our new sister brand - Beta MTB.
We’re taking this opportunity to formally challenge our new sister publication Beta MTB to a very serious mountain bike competition. We’ll look at the calendar and figure out the best time and venue, but we’re going to have to throw down for ultimate bike dork supremacy. Hat tip to @johnski for the idea.
We’ll race the Grim Donut, we’ll do some early freeride video trivia, timed fork rebuilds, longest skid, World Cup quizzes, Impossible Climbs on a tandem, etc… I’ve got the Pinkbike crew training already so it’s time to start doing pushups Palmer!
Thank you to the community.
Radek set out 23 years ago to connect riders, and along the way the community here at Pinkbike has taken on a life of its own. All of us here want to say thank you for making this place what it is today. The changes on the horizon are exciting, and we hope you’ll bring your salty, irreverent, priceless selves along for the ride.
| We founded Pinkbike to show the world how amazing mountain biking is, and to inspire others to get out and ride and fall in love with the sport like we had. Joining Outside gives our team an opportunity to tell stories to an even bigger audience and to collaborate with world-class journalists at the other brands and sports in our new family. We’re also thrilled to bring our Trailforks technology and community into the ecosystem that Outside is building. In partnership with Gaia, we intend to map every trail in America, and eventually the world, so that Outside+ members can ride, hike, run, and ski with greater confidence and safety. |
We’re honoured by the faith the Outside team is putting in us, and we’re eager to start Pinkbike’s next chapter.
Thank you,
Brian Park, Head of Editorial
PS. Full review tomorrow, looks like a Session, etc. etc.
Author Info:
Member since Dec 29, 2010
Must Read This Week
Welp, it's been a good run. Thanks for everything Pinkbike. I fear change and can only assume this is the end as we know it.
Very seldom is this good in the long run.
I did love my 2004 Banshee Scream, but it's a 2021 Stumpjumper Evo world, so I'm excited for that 'next level.'
their articles are some of the best
nothing is ever good enough. nothing.
2 thumbs down.
I'm fine with ads but I won't be paying a monthly suscription, not even for Dan Roberts reviews.
This is simple scalability and hope it works well for the Pinkbike staff with additional benefits, insurance, retirement, pay, ect. Unfortunately being "punk" doesn't have a retirement plan or cover 85%+ of a knee surgery. The staff will need to make more money to afford rising MTB costs. It's not like Sarah, Levy and Kaz are dentists.
Speaking of.... ever notice every dentist office has Outside Magazine in it ? Did Pinkbike just get purchased by a Dental conglomerate ?
Frankly, I can live without Pinkbike. It's Trailforks I'm really going to miss
People will only think of how this effects them personally in a yet to be unknown way instead of thinking of how it helps PB like you mentioned.
Better finally make a vital account, womp womp.
I wish you and the site the best of luck, but more money flowing into things like this rarely result in improvements. It almost always involves appealing to a wider audience.
(The Donut v2 starts fabrication next week)
Congratulations.
BS corporate jargon like this is what is killing too many good things
Sadly it seems like here the PB editors (@brianpark at least) are cheerleading for the takeover. Paywall and auto-play video ads in 3...2...1....
Holy cow, this could be a real conundrum.
Depends on what you do understand by "next level" being owned by a big company means that profit comes above everything else.
I'm afraid that Pinkbike will become another platform for industry adds.
Becoming part of a big group means loosing part of what you are, you're not independent anymore.
Bad news.
Who's going to create Pinkbike 2.0?
I have seen this on some sites - if an article generates enough clicks, the AI gives it the "premium" sticker, so you have to be on the site all your time to catch the interesting news and comments for free - or pay for it.
Much as I have lived on without Trailforks, I suppose I’ll live on without PB. Bummer though.
All Vital needs is a better buy, sell, trade and there’s no reason to miss Pinkbike—at least for most people
Pinkbike won't be the same ever after this move.
Some rich guys making more money no matter what.
I don't think so, it will certainly benefit Outside for a while, until nobody comes here anymore because of paywalls and so.
I sincerely hope the best for the staff.
I hate being told its about "growth", or the "next level" when its really about money.
I would really like to see assurances that PB content as it exists currently will remain the free version, and that any pay wall would only apply for new, additional content. In your article you mentioned training plans, health videos, books etc and that would be a brilliant addition that I would pay a subscription for as it offers new value that you and your competitors don't currently have.
Singletrack, in my opinion, are a great example of what you should NOT do - the only content not behind a pay wall is of far reduced quality to what they did have, and the amount of adverts and pop ups makes the site horrible to use. I've stopped using it completely.
PB is more than a website to many of us, it's a community, in a lot of ways it feels like a tribe or a family. The thought of that sense of togetherness disappearing behind a pay wall, or turning into the free version of Singletrack, feels like I'm being robbed of something which I feel I belong to, and therefore have shared ownership in, even if only emotionally. I hope decisions are made moving forwards which consider us, the readership, as I can see this being a make or break moment for PB and I don't think everyone will stick in it for the full journey.
The podcast is a prime example of how dire the situation has become. Shows about nothing and reaching for words to fill up 90 minutes or less.
It makes sense, however. Gain revenue streams, boost revenue with click bait, sell platform, buy a Tesla. Literally straight out of the play book. The next chapter is where the product sucks because either staff or new owners self destruct the brand
Look at Singletrackworld for example. You have to pay your membership to access their original content. press release articles and their forum remains free but it feels much quieter then before they switched their model.
I honestly hope for the sake of what this site means to the bike community in general that they don't mess with it too much. But the cold reality is companies like this tell you they won't... then they do because they think it will make them more money. You start throwing in paywalls and changing things up too much you'll start to see a significant shift in where people are going.
But I think that is avoidable and not something that's going to happen immediately if it does happen.
Cheers to the old guard.
Problem is yours/pinkbike's/owner's next level may not be USER'S NEXT LEVEL.
Internet is huge, I've seen sites been born, get huge and die. It's life cycle.
So, let's check it out, what will happen
No, I'm not a fan of subscription content, but let's just wait and see which content will remain free. We can still switch to all the other websites once the content section ends up behind the pay wall...
1. Redacted
Unpopular opinion I'm sure, but for me PB content has been slipping for the last year or so. Volume over quality, continuous fluffy/data-mining polls, standout articles becoming fewer and further between. In all honesty, the comment section has always been entertaining but has now become the single biggest reason to hit the PB link in my favourites. Becoming a pay-site, and the affiliation with Outside will probably make me un-favourite, un-click and unsubscribe.
Thanks PB for being my daily page for 20+ yrs... it's not you, it's me.
No wait. It's you.
>> I firmly believe that this was the best possible way to take Pinkbike to the next level
I don't doubt this, but I think it's a valid question: Does PB needed to go to the next level? What do you want to do that you couldn't before?
I clicked over to Ouside, and yep- they have moving banner ads across the bottom (and often side) of the screen. One of my favorite things about Pinkbike is the style of ad integration... they aren't jumping out at you and moving while you try to read the actual content on the site. I really hope this doesn't change- it's one of the many reasons I come here over other sites.
Also, Outside+ is $100/yr ... if they try putting the best content behind THAT wall, I think you'll see a large number of folks jump ship.
You've been warned.
Save the BS...
I agree. Everything is for sale. Your life and everything you see is for sale. Really depressing.
f*ck capitalism.
Right now PB is at the mercy of what the manufacturers want to loan them for evaluation… now they will be able to purchase their own components and bikes. How any times have we complained that they only evaluate $8000-$10000 bikes? Now they can buy the $4000-$6000 builds and when they’re done sell them on Buy/Sell.
That'll only happen with a subscription based model.
www.greenbiz.com/article/patagonia-founder-takes-aim-elephant-room-growth
not anymore...
Pinkbike 1998 - 2021
RIP ?
Most everyone talking about monetization is thinking that means paywall, but it doesn't necessarily. This site has been running ads and therefore "monetized" for a long while now. Paywall is just another revenue stream that may or may not make more $ for the owner and may or may not be implemented. Time will tell.
If the editorial team sticks with the same passion and mission, I'm all in. Keep the faith @brianpark @jamessmurthwaite @mikelevy @sarahmoore @mikekazimer
Tell that to Facebook
These people don't give a shite about you, it's all nonsense, don't fool yourself.
Welcome to Human Capital(ism) We are the most valuable asset here and we are somewhat disgruntled, apparently.
Short version to Pinkbike: You'll get more pay and have more capital to expand the biz! Think of the new opportunities to review more bikes and different components, and to travel to new testing sites across the globe!
And maybe it will work out, but it's unlikely I'll pay to be part of it.
My experience with tech acquisitions, which this feels very much like, is that the new investors/owners are likely going to roll PB and Beta into one, and then GAIA and TF into one, after some time. Wouldn't surprise me if Beta just gets rolled into the PB brand, since it's stronger with the "core" demographic, I'm not too familiar with GAIA, but I'd suspect that Outside is looking at this like "we don't need two mapping applications". Unless Outside is hoping to IPO one day, which I doubt, they're probably hoping to package and sell their portfolio to a bigger player like Conde Nast, Rodale, Bonnier, Time Inc., etc.
Anyone know why they grouped PB and TF under “endurance” on the Outside trophy wall? Seems odd to group along with Running, Cycling, et al. Is this a harbinger for future missteps?
Hoping for the best, for the staff, and especially for the community that's the backbone of what we all hope doesn't get paywalled into oblivion. The comments rolling in today say it all - rest assured VC isn't looking. Oh yea, f*ck Outside.
You should be!
And I'm not at all 100% against subscription services, as I'm actually a BetaMTB subscriber, but mocfrom a free platform to a paid one will always be wrong. It will always alienate your users, it will always feel like your users got cheated.
It's a sad day, and while I get that we all have to eat, this was a bad decision and I'm pretty disappointed.
But ultimately VC funds are not indefinite. The goal is to invest, build a company, and cash in. So the people owning the company just by nature of the business have no interest in holding it long term. The entire goal will be to either sell the company to another larger media company or take it public.
(You drank the Kool-Aid. Though not to the level of Brian)
Me: Dang, XT wireless finally released!
Anyone: What’s that?
Me: Opens mouth to talk, then sighs at the massive amount of explaining needed, just for the person to stop caring half way through it.
You guys can’t all leave or I’ll never be able to talk to someone who doesn’t say dirt ramp or daredevil stunt master without years of explanation.
It’s all about the value proposition and paying for online content is a low value in most people’s minds, that’s why most will use you tube and be quite happy to stomach their ads
But seriously, this could backfire if the core audience is alienated and jumps ship. I think hardcore MTB fans are like American NHL hockey fans - the ones who love it really LOVE it, but for the rest of the punters it's a passing fancy. Not the type to wake and fire up the interweb for bike-related content.
So I'd guess we can expect the same here in the future. So as long as they comments section remains free we'll STILL get to waste hours every day bitching about ebikes!
Actually, even the paywall articles on BETA leave the first paragraph free. So really most PB commenters will still have all the information they need to continue to make the high quality "informed" comments that we are known for!
To read the remainder of this comment, join Outside+!
Serious trust issue right now between this community and that brand.
Absolutely the same for me. This just puts PB to bed for me. Good bye and thanks for all the fish!
Me: Who remembers MUDSLUTS (which predated MTBR.com)?
Y'all: "No one, ya old git!"
going downhill without control, either you win or you crash painfully which is way more likely.
Pinkbike was developed in a great direction during the last years. It has become the number one media for mountainbikers in the whole world. So I am very confident in your decisions as they have proven to be good ones in the past.
However I do have the feeling that going down the paywall rout just because everybody is doing it and PB is now part of everybody is a huge risk and has the potential to ruin the whole thing.
The greater the opportunity the greater the risk.
I guess the pirate days are gone.
I'm gonna go ride my 26" hardcore hardtail now while I mourn for the future
I mean, PB gets me excited to buy new gear. The comments section helps inform me, and the Buy/Sell is usually how it happens. No other media outlet really fires that stoke.
But THEN he mentioned the volume of sales that goes through the Buy & Sell each day "and it's not even monetized yet!". So get ready for that too. He seemed like the scum of the earth type of human who ruins all good things in the name of profit. And not for the hardworking employees who make the actual product great. Was sad to hear and to listen to. To all the staff of PB, I hope you guys are treated well during this.
Now, if you will allow me to set off my soap box.... haha
None of which should be paid for. Riders only provide content because they site does not have a pay wall, we pay by answering surveys and tolerating bike company articles and adverts. It worked well. I can't see anybody paying for PB content, it just isn't at the level of Vital or Enduro-mtb not even close.
There are three core audiences with a lot of overlap: articles, forums, and buysell. I can live without articles but if either of the latter two go, I go with them. Monetizing forums and classifieds does not work, its a well worn path that ends up nowhere, but I wouldn't put it past some MBA to try to squeeze blood from a stone at the expense of an established community that's already generating ad revenue.
Not so bad since they’ve been providing the whole bike for free for years.
Is there a way I can delete my Pinkbike-account?
www.outsideonline.com/outdoor-adventure/biking/outside-acquires-pinkbike-cyclingtips-and-trailforks
"The Pinkbike acquisition adds considerable readership and revenue in the cycling space, and thus adds momentum to the company’s Outside+ membership program. Outside+, introduced this year, offers enthusiasts various bundles of content, services, discounts, and other offerings for a $99 annual fee. The membership revenues complement Outside’s revenues from advertising, creating a business model for publishing that CEO Robin Thurston said is more sustainable than traditional media models in the long term. Adding Pinkbike, CyclingTips, and Trailforks gives Outside+ more critical mass, making membership purchases more desirable for enthusiasts and providing more readership for advertisers inside and outside the industry, Thurston said.
“This acquisition is a key moment in fulfilling our mission to build a vibrant home where active lifestyle participants will discover a wide range of content and tools to fuel their adventures. We’re very excited and honored to welcome the Burkats and their team to our family,” said Thurston. “As a lifelong cyclist, I’m a huge fan of these brands, which are perfect complements to our own cycling titles—VeloNews, Peloton, Beta, and Bicycle Retailer—and to our recent acquisition of Gaia GPS, the dominant mobile mapping app for hikers, backpackers, and overlanders. The marriage of these businesses creates a truly comprehensive resource for all types of cyclists and outdoor adventurers.”
The ironic truth is I (and I imagine others,) might have actually considered paying an annual subscription fee for Pinkbike and Trailforks AS IS, owned and run by the people that currently run it, rather than some other parent company that will likely alter it in ways I simply won’t like, and definitely won’t pay for. (Look no further than the current, apparently permanent ad on Outside that takes up the bottom section of the page that you can’t even click to go away, for example.)
Pinkbike and Trailforks, (again, as is), are worth at least a few bucks a month to me but it won’t be if it diminishes or morphs into anything like Outside. It’s hard to believe that won’t happen.
The sentence "As a lifelong cyclist, I’m a huge fan of these brands..." just makes me gag. It's just a token gesture to try and say "hey people, us vulture capitalists totally have the same interests as you".
Cheerio PB it’s been a blast and hello Vital.
Now, as a Pinkbike reader and TF contributor, i'm very worried about the future and i'm in the wait & see category.
What will happen with the existing user content (photos, videos, etc..)? Will it be also available for all the other Outside publications? Same with all the future content (TF included). To be honest i'm not sure i would post/share any media on Pinkbike until this question is answered.
The other elephant in the room is how independent Pinkbike will remain. I still remember when Outside Mag declared that snowboarding was dead (with the drama that ensued) and i'm really not looking forward to that kind of editorials.
And I want someone to name a single publication that improved after Outside took over... I'll wait.
It will be a slow death for PB at first. But dead it will be, at least to me when it goes the way of all the others.
"The ironic truth is I (and I imagine others,) might have actually considered paying an annual subscription fee for Pinkbike and Trailforks AS IS, owned and run by the people that currently run it, rather than some other parent company that will likely alter it in ways I simply won’t like, and definitely won’t pay for. (Look no further than the current, apparently permanent ad on Outside that takes up the bottom section of the page that you can’t even click to go away, for example.)"
This.
We could have raised at least $10.00 Canadian.
just kidding but part serious.
.
I hope this story goes the direction of the, infamous Summit Sport of Whistler - Coastal Culture Sports, tale.
See, but they actually kind of do. Because without the traffic and comments and people, those ads are worth dick. They GET ad revenue BECAUSE the commenters and people are here and because what they're putting out is stuff people want to see. Soooo... you can freely push them away, but then ad revenue will drop when they can't justify the cost to reach ratio any more. If the content sucked, well then same difference. Better hope those subs make up the difference in income.
I've been through enough company acquisitions to know the standard spiel that comes across, it sounds like sunshine and roses until the deal is done. The owners get rich, the workers get laid off or beat into submission, and everything goes downhill from there.
But what would posting a survey bring about, aside from hurt feelings?
Just for kicks, look at Outside magazine: take one from the 90‘s and one of today. The old editions were about the outdoors with lots of awesome writers and stories.
Today it is first and foremost about expensive, snobby style crap for rich people that are never outdoors but play pretend.
Outside is, for me, the prime example for a complete and utter sell-out of values and vision for lots of greenbacks. That is the road PB is going down now and your team-sponsoring blahblah for me is nothing but a pipe dream.
Let’s see who of your crew will be employed by Outside three years from now…
Why am I writing this? Experience of several buyouts as an employee - it was never pretty and in the end I was holding the bag. And yes, I have heard your future dreams frim several middle-management types, deluding themselves.
I’m wary of all of this too, but let’s be real.
Every one of us would not think twice about having to pay $5/month for the ability to use our suspension or droppers if it really came to it. I do enjoy ridged bikes, but not enough to render my squishy bikes useless. I’d happily have 1 less beer a month haha.
F
1. how many days until the first paywall?
2. how many days until the first 'ten best MTB mountain towns to retire in that you have never heard of' article.
www.youtube.com/watch?v=3-cXK0OaeB0
Outside: The Best Places to Mountain-Bike.
www.outsideonline.com/video/ely-nevada-the-new-mountain-bike-boomtown
Bam. Nailed it...
It was annoying that Trailforks played on the community aspect to get the maps and trails built up in their system, and then pulled the rug out from under you. Now they're part of a giant media conglomerate. Why should we continue giving them money?
It’s hard to imagine that a large media conglomerate buying TrailForks won’t somehow mess that up.
Safety is a premium feature. Because of course.
Just needs users on the other side of the pond.
Same thing is going to happen with PN
Someone help m
If organizations are going to continue to put effort into trailforks , the end user should not be paying trailforks with out some option for the trail organization to either spit the user fees or have a way bigger incentive for trail users to donate to clubs. currently we make about $30 a year though trailforks donations.
There were suggestions for having regions open to users via a local tourism boss fee. this was brushed off as too hard to implement. If you want to continue to have clubs spent time and money on the platform these concerns have to be addressed.
You cannot even map out a ride on the Trailforks app - only select uploaded ride logs or single sections of a trail. This should be a top 3 function, and is unacceptable in an app that is $40.
Total BS.
What they did was f*cking slimey.
@cyclebean: I think you’re on the right page here. If I’m paying for content I want the option to see tits! Take not outside!
Pinkbike is O.F. Vital is Pornhub. Long live the Hub!
This is a Varg killed Euronymous moment.
What a genuinely horrible and frightening idea.
That's all folks.
How much is the PB Comment section worth to the users?!?
really makes me almost wonder why I paid for trailforks, or bought merch from PB in the past year. and I will certainly be reevaluating that going forward. The fact that I knew my money was going towards supporting the editors and staff of a website/service I used frequently made me happy...now its just going to be a tiny contribution to the Outside coffers. I grew in Calgary, surrounded by the very people who made this website as idols, and have been a part of this website from the very early days. Looks like its back to scouring NSMB for actual content with some heart.
I'll try to be hopeful. but experience tells me otherwise.
I also don't buy the "we need to make sure our employees are taken care of" stuff. They were obviously doing just fine over the past few years, and I highly doubt this was a decision that most staff was pleased with.
I'd be lying if this whole thing didn't hurt a bit. Over the years we were "promised" by PB they would not sell their soul to some conglomerate....and here we are. Its not that I don't understand why they chose the road they have, and good on Radek for essentially living the dream "make a company so big you get bought out" ....but just sad times.
Anyone know how to remove silk screening from t-shirts? I like some of my shirts images, but I am not about to advertise for Outside to make more money.
"Our testers have spent x days in [insert name of a huge mainstream resort, a smaller and lesser known very good resort and a popular touring zone] testing this ski.(Random midwidth ski) will allow beginners and experienced skiers to slay the slopes and the powder with confidence in and out of the resorts."
So now you will read something about the best bike of 2024 (specialized something) that was tested in whistler, and on a some rather secret trail in WA or CA and that performs very well for XC, trail and DH and that is perfectly suitable for beginners and experienced riders.
The point about the money being based on the USA is huge. The last thing these guys want is “controversial “ comments sections. Nice knowing y’all.
Private Equity or Buyout firms are the ones that often really run a company into the ground. These firms buy existing companies, usually struggling ones, and often bleed them dry. These are the ones where you see the extreme cost cutting, excess debt, etc.
Venture Capital on the other hand is growth oriented. These investors are looking to invest in something small and grow it. In this case its a media company that's growing by acquisitions. The general VC model would suggest that there will be alot of investment up front, and not much worry about actual profit for right now as they can just burn through the VC cash. They will almost be exclusively focused on increasing users and page views as that growth is what will drive the increase in company valuation (which is a VC's main focus).
So in the near term I don't see a total disaster in terms of layoffs, restructuring, etc. It will probably be just fine for the employees in the short terms. Its a few years down the road when it comes time for an exit strategy that may be the problem. VC's are not indefinite and they will look to either sell the company or take it public at some point. That's just the way it works. VC investment is temporary and there is always an exit plan, whether it be acquisition, IPO, or just straight pulling the plug if the business sucks.
I get that people have bad experiences with some PE backed businesses. I have to. Ownership screws up and makes poor choices like all of us do from time to time. However, it's not reasonable to say that the dominate capital structure of US companies "really run a company into the ground." On the whole most shops do a good job for the business and provide them capital and expertise to grow which is why they are able to raise trillions of dollars to buy companies. The couldn't raise this amount of money consistently if they "bleed them dry" and generate modest returns... These investors want 4X/5X returns, at a minimum, and that simply doesn't happen if the company isn't successful by a broad number of metrics.
I have plenty of experience with both VC and tradition PE/LBO firms. 4-5x returns at a minimum? Not realistic. Looking at the last 25 years returns in the range of 2-2.5x would get a US PE firm into the top quartile (depending on vintage year). With fees & things like dividend recaps, many firms can easily suck a 2x return out of an investment while running it into the ground.
This generally means as the owners they were given some cushy well paid job for the time being in exchange for some kind of non-compete clause for a few years. Their influence over Pinkbike will slowly fade over the course of a few years after which they will quietly move on.
And for the record I say good for them. If they were able to cash out and can now move on with some big money in the bank I say go for it and thanks for what you built. They don't owe us anything.
also, all the key people (Brian, Kaz, Levy, et. al.) also got a similar, yet smaller deal to stay for a certain amount of time. they tie it to stock grants and their vesting schedule.
good on all those that hit paydirt, but RIP what we know as PB.
This started as a passion project so I am sure they want the want to ensure the transition goes smoothly and PB to be successful longterm...
FWIW most sales are actually successful and work. Sure, we will see what happens here, but I bet it will be good for PB in the long-run.
People wouldn't buy businesses if the process wasn't successful the majority of the time. Sometimes buyers get it wrong, hire the wrong people, make mistakes, etc. but, for the most part, they are able to steer things in the right direction that benefits the businesses customer base (otherwise the business wouldn't be successful). I am not saying Outside couldn't royally screw this up. Pinkbike is highly sensitive with a broad/influential userbase and multiple stakeholders where you need to balance both bike and internet culture... it's definitely higher degree of difficulty than most transactions.
"...a significant portion of our content will remain free."
The worry for me is the selling out to a big conglomerate. These type of things ever seem to end well. When some big brand tries to combine a bunch of unrelated shit under one "umbrella" it usually turns into a disaster. When I come to PB its for mountain bike content, thats it. I don't want "collaborations with other brands and sports" All you end up with is watered down garbage.
- List more than 20 buysell items at any time. Up to 500 items.
- Add more than 50 buysell items to wishlist. Up to 500 items.
- Become a beta tester and see features of pinkbike as they are developed.
- Additional Photo view features like up to 126 photos per page
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Also planks and v-sits are how you get those abs you're after. ;-)
HA HA
"Singlespeederbike adventures in Endor"
"Spiderman vs Assegai: Which grips better?"
"The circle of life: 27.5 is back in fashion!"
"Moirnsters Inc"
See? Media homogenisation isn't so bad.
I'm almost purely down to rent, internet, and basic mechanical utilities for monthly bills and it's amazingly convenient. If I get bored, I go outside and ride bikes instead of hopping on Netflix or whatever to rot my brain for $8.
Hope you pleasantly surprise us all...
Good for you hradek. But I have no interest in paying for anything from outside.
If you are still taking free product and promotion from the industry, don't put it behind a paywall. You can't have it both ways.
The baller move here: Tell the industry to stuff it. Buy everything at retail. Throw the shiytt stuff to the wolves and only praise the truly great products. Get your boosted ad revenue from tangential sources (ford, subaru, clif bar, beats, whatever).
I'd pay to see that.
It has to be either FREE or UNFILTERED. It can't be neither.
3 months later, "We could never have anticipated [XYZ]. We'll be consolidating offices into our main location. Good luck in your future endeavors."
Alternate take: No matter how hard I try to avoid the insufferable Wes Siler, he finds me.
I'm calling bullshit on this one. Giant conglomerations have never made more personalized experiences.
But if I'm trying to stay optimistic, if Pinkbike becomes a crappy paid service this would open up the market for a lot more small, cool and independent bike websites to become successful. Right now I think they struggle a lot.