A ‘Rags to Riches Self-made Millionaire Blogger’

Sold His Blog for $102.5 Million

How Pennyhoarder BLOG Made Multimillion a Year & Sold it for $102,500,000.00

A Rags to Riches, 2 Timer College Dropout ‘Self-Made Millionaire’, sold his blog for a whopping $102.5 Million. Kyle Taylor, the founder of ThePennyHoarder.com  sucks at writing. He personally admits to being “a slow writer”. Seriously.

“I didn’t even know about blogs,” Kyle Taylor says. But how could a man who sucks at writing build a simple blog into a multimillion-dollar media leader?

A few years ago, Kyle Taylor was like many people in their 20s, saddled with debt and making uneducated financial decisions. To encourage himself to get out of his financial mess, he started a blog about his journey.  

Today, his blog is regarded is one of the top personal finance websites, with more than 12 million monthly readers.

Let’s find out how he started it and the methods he use in monetizing it and how you can replicate his success.

 The Quick Facts:

  • Kyle Taylor, a 2 time College Dropout, started and founded the blog in 2010
  • He started with a $50,000 in student loan debt.
  • It started a ‘One-man’ Personal Finance Blog.
  • He started very slow. 6 months to first check ($100)
  • Later on hired writers when he started making substantial income.
  • The Website / Blog originally served as a Personal blog where he documented all the ways he was making, saving and managing his money in order to pay off $50,000 in student loan and credit card debt.
  • He has converted a personal blog about scrimping into a company approaching $40 million in annual revenue. 
  • In the first couple of years was a struggle
  • Thepenyhoarder.com cracked the code to providing good content
  • His site delivers “snackables” — content that readers consume in a quick bite — with one overriding theme: “To put more money in readers’ pockets.”
  • Massive hard work and persistence
  • Inc 500 Fastest Growing Media Company

The Most Profitable Blog Pennyhoarder Sold for $102.5 Million

This Blog Was Born Out of Debt Pain

While still in college, young Kyle Taylor started his first blog in 2010 on Google BlogSpot (Google Blogger), a blogging platform that’s free for all, even today.

Back then, his $50,000 student and credit card debt heavily weighed on him. In his own words, he had a “spending problem” and “an income problem”.

So he started blogging anonymously as a way of getting relief from his debt problems. It was also another way of sharing money tips with other people. It made him feel better. And he also learned a few tricks.

How the Blog was Started 

ThePennyHoarder.Com, with CEO Kyle Taylor, is one of many bloggers who started successful blogs. Since he could not afford a Web Hosting then, so he started blogging using blogger.com platform. But since there are a lot of downsides of using a free blogging platform, when he started making money, this is how he technically started blogging using WordPress.org Content Management System:

He Picked a Domain Name (Thepennyhoarder.com)

He Registered a Web Hosting Plan

  • Web Hosting is a service or company that hosts your Website/Blog / Online Store and its files and connects it to the internet making it viewable online to the whole world.
  • Nowadays, webhosting is so cheap and easy to register. It only takes 1-3 minutes.
  • Cost: You can start a Website/Blog by registering a $2.95/month Hosting Lite Plan with Greengeeks. This already comes with a Domain Name Available of your choice FREE. Click here To Register your Domain & Hosting

He Used Self A Hosted Content Management System (CMS)

He Used a WordPress Theme 

  • WordPress themes are Premade Templates you can use for your Website Blogs. It will save you money, time, enery and effort creating them from scratch.
  • This is specially useful and advantageous for individuals who do not have the knowledge of website designs as they are done-for-you.
  • With WordPress Themes, all you do is to find your desired website/blog templates from Themeforest or Envato Marketplace, Templatemonster, etc. Download & Save the purchased Theme to  your Computer, then install it on your WordPress Website Blog. See How to Install Theme on your website

What are His Blogging Strategies

The Penny Hoarder’s business model — and the way it produces commercial content — differs from many traditional media companies.  

  • Th PennyHoarder.com provides articles, personal stories and original reporting with a personal finance angle. There’s a focus on reaching underserved readers who make less than the average household income and may feel alienated by most finance publications
  • The Pennyhoarder.com are now employing writers in-house to write content for the blog

His Monetization Methods & Income Streams

Let’s find out the methods he use in monetizing it. He has a few Revenue Streams:

Affiliate Marketing (95%)

According to Kyle Taylor, the Penny Hoarder makes about 95% of their money from “performance marketing,”. That’s another fine term for affiliate marketing or fees from referrals. The Penny Hoarder still to this day makes nearly all of its revenue from affiliate marketing

Some of the biggest affiliate partners of The Penny Hoarder include Swagbucks, UBER, Amazon, Care.com, InBoxDollar, AirBNB, Credit Sesame, and many others

  • Companies running Affiliate Programs is now ubiquitous all over the internet.
  • Affiliate marketing is one of the best and top money makers of many millionaire Bloggers and Internet marketers.
  • Affiliate Marketing is when you are approved as an Affiliate and recommend companies’ products, software and or services for a commission for as high as 75%.
  • Any individual or any business in the world can apply or can be an Affiliate.
  • Affiliate marketing is what made Amazon.com a lot of money. They allow individuals and small businesses to become their affiliates. It’s free for website owners and bloggers to become Amazon Associates. They advertise products from Amazon.com on their sites by creating links. When customers click the links and buy products from Amazon, they earn referral fees.
  • Joining affiliate Programs is Free.
  • You should have a Website/Blog before you start applying Affiliate Programs. See: How to Create a Website/ Blog in 10 Minutes. It is a requisite for majority of companies running Affiliate Programs.
  • Learn more on How you can be a Millionaire fast with Affiliate Marketing, regardless of who you are and where you are in the world. 

CPA (Click Per Action) An Affiliate Marketing Model

CPA marketing, also known as cost per action marketing, is a style of the affiliate marketing model that offers a commission to the affiliate when a specific action is completed. The lead action can be anything from making a purchase to getting a quote, watching a video, or filling out a form.

Google Adsense

ThePennyhoarder.com one of its monetization methods is through Google AdSense. Simply put, Google adsense is an advertising program that allows you to run ads on your website, blog, or YouTube videos and get paid when visitors click on them.

Fast Forward to 2020

” Fast forward to 2020, and The Blog has transformed into a media company. Taylor’s no longer a blogger. He’s the CEO of a company that employs more than 100 employees. In 2017, The Penny Hoarder brought in more than $37 million in revenue.” (Source) 

Sold for $102.5 Million

Digital media company Taylor Media Corp., the owner of The Penny Hoarder, has sold to a division of Tampa-based Sykes Enterprises for $102.5 million.

The Penny Hoarder, with content and expertise focused on personal finance, will remain in St. Petersburg, said Kyle Taylor, founder and CEO. All the employees have been offered a job in the new organization, said Taylor, who also is staying on with the company. (Source)    

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