Pulpmx empire

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1/20/2020 6:27 AM

If Steve was going to sell his business, including fantasy, which I think is a absolute gold mine for him, what would you guys value it at?

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1/20/2020 6:30 AM


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1/20/2020 6:33 AM
Edited Date/Time: 1/20/2020 6:37 AM

I would have to say Steve himself brings a lot of the value. It would be tough to put a value on his brand without him. He is the brand. The fantasy may be a little different. The whole group of guys really put in a lot of work and make it what it is.

Pulp isn't pulp without Steve or a basset hound howling in the background of each show.

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1/20/2020 7:06 AM

stremme12 wrote:

I would have to say Steve himself brings a lot of the value. It would be tough to put a value on his brand without him. He is the brand. The fantasy may be a little different. The whole group of guys really put in a lot of work and make it what it is.

Pulp isn't pulp without Steve or a basset hound howling in the background of each show.

You hit the nail on the head. Listen to any of the other podcasts for 10 minutes and it's pretty evident what Steve brings to the equation.

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1/20/2020 7:08 AM

Pulp isnt pulp without steve.

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1/20/2020 7:08 AM

Does darkside and the wrap up show come with it??

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1/20/2020 7:09 AM

kb228 wrote:

Pulp isnt pulp without steve.

Kind of like how Dean is Dean.

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1/20/2020 12:16 PM

If all the extras come with it, cool studio, marx, pookie, dogs, keefer, JT, etc (which they wouldnt) I would say 500k to 750k.

Fantasy its self, is becoming bigger than PulpMX show IMO. It makes significant money I would think. Best part is that the expense aka code for the website, R&D, etc is already done. Its just a run every year with minimal changes kind of thing. Servers, hosting etc but thats pretty cheap in the grand scheme of things. Just championship players paid more than 200k. Most prizes are donated I would think making fantasy a real money maker.

If you are brand that is in the industry, I don't know where you can get better exposure for your dollar.

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1/20/2020 12:51 PM

early wrote:

I'm willing to take over

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insta @350_life

1/20/2020 12:53 PM

nascarnate326 wrote:

If all the extras come with it, cool studio, marx, pookie, dogs, keefer, JT, etc (which they wouldnt) I would say 500k to 750k.

Fantasy its self, is becoming bigger than PulpMX show IMO. It makes significant money I would think. Best part is that the expense aka code for the website, R&D, etc is already done. Its just a run every year with minimal changes kind of thing. Servers, hosting etc but thats pretty cheap in the grand scheme of things. Just championship players paid more than 200k. Most prizes are donated I would think making fantasy a real money maker.

If you are brand that is in the industry, I don't know where you can get better exposure for your dollar.

How many players in the championship league and how much is it?

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1/20/2020 1:14 PM

early wrote:

$350k?

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1/20/2020 1:17 PM

kb228 wrote:

Pulp isnt pulp without steve.

DPR250R wrote:

Kind of like how Dean is Dean.

Steve is Steve

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1/20/2020 1:18 PM

Gordon Liddy wrote:

$350k?


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1/20/2020 1:20 PM

nascarnate326 wrote:

If all the extras come with it, cool studio, marx, pookie, dogs, keefer, JT, etc (which they wouldnt) I would say 500k to 750k.

Fantasy its self, is becoming bigger than PulpMX show IMO. It makes significant money I would think. Best part is that the expense aka code for the website, R&D, etc is already done. Its just a run every year with minimal changes kind of thing. Servers, hosting etc but thats pretty cheap in the grand scheme of things. Just championship players paid more than 200k. Most prizes are donated I would think making fantasy a real money maker.

If you are brand that is in the industry, I don't know where you can get better exposure for your dollar.

SteezGeez wrote:

How many players in the championship league and how much is it?

$35 to play SX and Outdoors. 6355 players that paid.



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1/20/2020 1:28 PM

Absurdly open ended question, given the lack of basically zero financials to go off of. What are his operating costs? What are his sponsor deals worth? What is his pay roll?

The answer?? Nunya. Nunya business. tongue

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1/20/2020 1:34 PM

nascarnate326 wrote:

If all the extras come with it, cool studio, marx, pookie, dogs, keefer, JT, etc (which they wouldnt) I would say 500k to 750k.

Fantasy its self, is becoming bigger than PulpMX show IMO. It makes significant money I would think. Best part is that the expense aka code for the website, R&D, etc is already done. Its just a run every year with minimal changes kind of thing. Servers, hosting etc but thats pretty cheap in the grand scheme of things. Just championship players paid more than 200k. Most prizes are donated I would think making fantasy a real money maker.

If you are brand that is in the industry, I don't know where you can get better exposure for your dollar.

SteezGeez wrote:

How many players in the championship league and how much is it?

nascarnate326 wrote:

$35 to play SX and Outdoors. 6355 players that paid.



So about $220k in revenue. Then he puts out $10-15k to everyone that helps out with the review pod. I think Marx must own a substantial amount of this as well since I think he came up with the idea. At the end of the day Steve is probably seeing at least $50k for the year with the fantasy pod if Marx and Steve own it 50/50

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1/20/2020 2:37 PM
Edited Date/Time: 1/20/2020 4:17 PM

I recognize that logic, reason, and data are hated and disregarded around this place, but I’ll take an opportunity to throw some salt on with the pepa’

Steve had done a great job growing a hobby, interest, passion into a tremendous operation and opportunity for his friends to earn an income. He produced free (mostly) content and a large part of why we all tune in each week is his personality, his schtick, and the inside jokes that we are all part of.

Therein lies the problem. The value of Pulp is centered around Steve, much like many self-employed and few man operations in this country. He is essentially a general contractor – with his name and reputation and listener base comes the value to his sponsors. With that information, the only value in the business is physical assets, some goodwill, and a multiple of Steve’s take.

So if we break it down a little more and value the business in terms of multiples, here’s my take on how/what I’d pay for it.

Assets – Fair Market Value, which would probably be $0.50 on the $1.00 he paid for things
Goodwill – probably not much considering that when Steve goes…it goes

Steve’s Salary + Recast of Financials, Depreciation, Owner Expenses, Etc – 1x because this is mainly a self-employed gig.

Sidebar: If Steve was able to manage (which he does to an extent) and train/replace himself, I’d add a 2x – 3x multiple. If PulpMX ran completely without Steve but he was still the owner, I’d value at a 4x – 5x of his take.

PulpFantasy – This system can run without Steve – I’d give it a 4x multiple of net proceeds with a requirement that Marx stays on for the next 3 years and they both sign a non-compete

So, long story short, the only person that could buy Pulp Nation and keep it alive is Jason Weigant. He’s too cheap, so Pulp dies when Steve quits.

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1/20/2020 3:37 PM

BUTWHY? wrote:

If Steve was going to sell his business, including fantasy, which I think is a absolute gold mine for him, what would you guys value it at?

At 35 bucks a pop x 60000+

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1/20/2020 6:11 PM

You gotta see the numbers to know what a business is worth.....

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1/20/2020 6:19 PM

Can't be worth that much he has a Patreon account right? ;-)

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1/20/2020 6:26 PM

Fuck Wil Hahn.

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Go Hawks!

1/20/2020 7:38 PM

For arguments sake I think he could hire someone to take his place and as long as the the others were down to stay on it would all keep rolling.
But the person would have to know the sport well etc.
If it were Mathes, JT, or Keefer it would be full steam ahead.
And even others would be possible depending on their knowledge and personality.

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1/21/2020 5:19 AM

jchek779 wrote:

I recognize that logic, reason, and data are hated and disregarded around this place, but I’ll take an opportunity to throw some salt on with the pepa’

Steve had done a great job growing a hobby, interest, passion into a tremendous operation and opportunity for his friends to earn an income. He produced free (mostly) content and a large part of why we all tune in each week is his personality, his schtick, and the inside jokes that we are all part of.

Therein lies the problem. The value of Pulp is centered around Steve, much like many self-employed and few man operations in this country. He is essentially a general contractor – with his name and reputation and listener base comes the value to his sponsors. With that information, the only value in the business is physical assets, some goodwill, and a multiple of Steve’s take.

So if we break it down a little more and value the business in terms of multiples, here’s my take on how/what I’d pay for it.

Assets – Fair Market Value, which would probably be $0.50 on the $1.00 he paid for things
Goodwill – probably not much considering that when Steve goes…it goes

Steve’s Salary + Recast of Financials, Depreciation, Owner Expenses, Etc – 1x because this is mainly a self-employed gig.

Sidebar: If Steve was able to manage (which he does to an extent) and train/replace himself, I’d add a 2x – 3x multiple. If PulpMX ran completely without Steve but he was still the owner, I’d value at a 4x – 5x of his take.

PulpFantasy – This system can run without Steve – I’d give it a 4x multiple of net proceeds with a requirement that Marx stays on for the next 3 years and they both sign a non-compete

So, long story short, the only person that could buy Pulp Nation and keep it alive is Jason Weigant. He’s too cheap, so Pulp dies when Steve quits.

Nice analysis, how do you know so much about valuing a small business?

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1/21/2020 5:35 AM

kb228 wrote:

Pulp isnt pulp without steve.

DPR250R wrote:

Kind of like how Dean is Dean.

makmcguire wrote:

Steve is Steve

Marx is Marx

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1/21/2020 6:36 AM

I heard he want to wrench for Evan Ferry 😐

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1/21/2020 8:38 AM

jchek779 wrote:

I recognize that logic, reason, and data are hated and disregarded around this place, but I’ll take an opportunity to throw some salt on with the pepa’

Steve had done a great job growing a hobby, interest, passion into a tremendous operation and opportunity for his friends to earn an income. He produced free (mostly) content and a large part of why we all tune in each week is his personality, his schtick, and the inside jokes that we are all part of.

Therein lies the problem. The value of Pulp is centered around Steve, much like many self-employed and few man operations in this country. He is essentially a general contractor – with his name and reputation and listener base comes the value to his sponsors. With that information, the only value in the business is physical assets, some goodwill, and a multiple of Steve’s take.

So if we break it down a little more and value the business in terms of multiples, here’s my take on how/what I’d pay for it.

Assets – Fair Market Value, which would probably be $0.50 on the $1.00 he paid for things
Goodwill – probably not much considering that when Steve goes…it goes

Steve’s Salary + Recast of Financials, Depreciation, Owner Expenses, Etc – 1x because this is mainly a self-employed gig.

Sidebar: If Steve was able to manage (which he does to an extent) and train/replace himself, I’d add a 2x – 3x multiple. If PulpMX ran completely without Steve but he was still the owner, I’d value at a 4x – 5x of his take.

PulpFantasy – This system can run without Steve – I’d give it a 4x multiple of net proceeds with a requirement that Marx stays on for the next 3 years and they both sign a non-compete

So, long story short, the only person that could buy Pulp Nation and keep it alive is Jason Weigant. He’s too cheap, so Pulp dies when Steve quits.

I positioning my company to be sold right now and no agent, lawyer, consultant, or accountant has put it as simple as you just put it.

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1/21/2020 8:44 AM

jchek779 wrote:

I recognize that logic, reason, and data are hated and disregarded around this place, but I’ll take an opportunity to throw some salt on with the pepa’

Steve had done a great job growing a hobby, interest, passion into a tremendous operation and opportunity for his friends to earn an income. He produced free (mostly) content and a large part of why we all tune in each week is his personality, his schtick, and the inside jokes that we are all part of.

Therein lies the problem. The value of Pulp is centered around Steve, much like many self-employed and few man operations in this country. He is essentially a general contractor – with his name and reputation and listener base comes the value to his sponsors. With that information, the only value in the business is physical assets, some goodwill, and a multiple of Steve’s take.

So if we break it down a little more and value the business in terms of multiples, here’s my take on how/what I’d pay for it.

Assets – Fair Market Value, which would probably be $0.50 on the $1.00 he paid for things
Goodwill – probably not much considering that when Steve goes…it goes

Steve’s Salary + Recast of Financials, Depreciation, Owner Expenses, Etc – 1x because this is mainly a self-employed gig.

Sidebar: If Steve was able to manage (which he does to an extent) and train/replace himself, I’d add a 2x – 3x multiple. If PulpMX ran completely without Steve but he was still the owner, I’d value at a 4x – 5x of his take.

PulpFantasy – This system can run without Steve – I’d give it a 4x multiple of net proceeds with a requirement that Marx stays on for the next 3 years and they both sign a non-compete

So, long story short, the only person that could buy Pulp Nation and keep it alive is Jason Weigant. He’s too cheap, so Pulp dies when Steve quits.

I agree with you but I do think that if some crazy thing happened and Steve was gone, the show could be continued by Daniel Blair, Jason, etc.


I think of PulpMX like SportsCenter, several people can talk Moto and we will still listen.

They did a show without him and things went just fine, hell RC even called in.

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1/21/2020 1:36 PM

BUTWHY? wrote:

If Steve was going to sell his business, including fantasy, which I think is a absolute gold mine for him, what would you guys value it at?

My father-in-law, who owns a CPA business, says typically you should sell your business for 3-5 years worth of the annual income/revenue.

So, I dunno. lol

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Designer of the PulpMx App and PulpMx Fantasy. Visuals were me; code was MarxDawg.

Mercedes Terrell was the GOAT of all Monster girls, don't @ me.



1/21/2020 1:59 PM

What Pulp makes a year times 3.5 and that’s what it’s worth.

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1/21/2020 3:32 PM

BUTWHY? wrote:

If Steve was going to sell his business, including fantasy, which I think is a absolute gold mine for him, what would you guys value it at?

TannerMxer wrote:

My father-in-law, who owns a CPA business, says typically you should sell your business for 3-5 years worth of the annual income/revenue.

So, I dunno. lol

I'm in TX and looking for a CPA if he's looking for clients...

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