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Tofurky

The FLO Gone from FLOSports ?

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Not surprised. This is what happens when you get too big, starting taking on too much VC. VC guys want their investments back no matter who is in charge.

Correct, and the VC guys likely had KPI that had to be met, or they get to put in their people.

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Correct, and the VC guys likely had KPI that had to be met, or they get to put in their people.

 

Looks like the the whole lawsuit with Floslam is their excuse to get Martin out. Either way, sucks for him to build that business up and get thrown out like that. I'm sure he got a nice parting gift$ though.

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I could be way off base here, but I am having a hard time understanding where 25 independent channels is the best business model. Track and wrestling are run extremely well. Some of the others don't seem to get content out very often. I guess it's all about getting those subscribers, but who is subscribing to a poor product?

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So, is his brother taking over the company or what? I don't really understand the lawsuit but kind of want to make some sort of comment about pro wrestling has once again messed things up for real wrestling.

 

@russelscout I agree that Flo has a lot of executional challenges, but think the business model is pretty solid. They seem to be doing some "long tail" type stuff by building a portfolio niche sports & competitive entertainment - big and sustainable in aggregate while hedging some of the risk -  plus going around big sports media by going OTT and direct to consumers who are cord-cutting like crazy rn. It looks like nearly all of their sites have fresh content, even Flo Rodeo (Flodeo) which is impressive since I imagine winter is not rodeo season, Flo singing, ballroom dancing, cheerleading and rugby. Some of those sites might sound silly to several of us or more "mainstream sports" fans, but then again I'm sure fans from Flo Marching Band may not understand why Flo Wrestling would ever cover some freestyle tournament in Krasnoyarsk, or like PA high school wrestling.

 

I think Flo's AAU basketball and prep football sites could totally blow up into something big, especially since the level of interest is growing so quickly and the coverage super fragmented. Hopefully the new leadership will keep a strong focus on wrestling and get some of the technical stuff straightened out and maybe invite more user/consumer participation and content. Bader for CEO.

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I am not really sure. With flo hoops and flo football there is potential for it to blow up, but you are also stepping into a very competitive market here. Is it worth it to take that investors money and widen the range of your coverage? Or take it and make the promissing channels you already have even better to drive subscriptions. Long term the former is probably a better choice and you are right, but looking at Twitter and seeing how some of these channels struggle to get even 2000 followers, I would think they ax several of these 25 channels eventually.

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He always planned to get out, but not this way.

 

Best thing that can happen here is for them to bring a CEO with a customer focus.  Clean up the business.  Get it operating professionally and then sell out to one of the major players who knows how to run a streaming company properly.  This company was never going to get where we wanted it to be with Martin and the helm.  This is good news.   

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He always planned to get out, but not this way.

 

Best thing that can happen here is for them to bring a CEO with a customer focus.  Clean up the business.  Get it operating professionally and then sell out to one of the major players who knows how to run a streaming company properly.  This company was never going to get where we wanted it to be with Martin and the helm.  This is good news.   

 

... don't have a crystal ball handy, but i do know Martin was a groundbreaker and put all he had into the product- I watch/use/consult FLO info and really appreciate it.  $150 a year is one less trip to the racino to cover it. Watched Wyoming wrestle live with my phat asz on the couch,

and a bowl of BBQ flavored chips close by..

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... don't have a crystal ball handy, but i do know Martin was a groundbreaker and put all he had into the product- I watch/use/consult FLO info and really appreciate it. $150 a year is one less trip to the racino to cover it. Watched Wyoming wrestle live with my phat asz on the couch,

and a bowl of BBQ flavored chips close by..

Sometimes the person with the passion/skills to build a business isn't the best person to run it when it is already built.

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... don't have a crystal ball handy, but i do know Martin was a groundbreaker and put all he had into the product- I watch/use/consult FLO info and really appreciate it. $150 a year is one less trip to the racino to cover it. Watched Wyoming wrestle live with my phat asz on the couch,

and a bowl of BBQ flavored chips close by..

I have worked at 5 starts ups and been involved with two acquisitions and rounds of funding

 

This is perfectly normal.

 

It doesn’t mean Martin didn’t do a good job, rather the skill set required to build a company to say 5-10 million revenue than build it from 5-10 to 100 million.

 

He probably got paid out a bit and likely still holds a significant amount of equity. While it is unlikely that this is what he wanted, it is likely good for the business in the long run.

 

I have a tremendous amount of respect for him. He disrupted a multi billion dollar industry relatively effectively and had a lot of naysayers

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I have worked at 5 starts ups and been involved with two acquisitions and rounds of funding

 

This is perfectly normal.

 

It doesn’t mean Martin didn’t do a good job, rather the skill set required to build a company to say 5-10 million revenue than build it from 5-10 to 100 million.

 

He probably got paid out a bit and likely still holds a significant amount of equity. While it is unlikely that this is what he wanted, it is likely good for the business in the long run.

 

I have a tremendous amount of respect for him. He disrupted a multi billion dollar industry relatively effectively and had a lot of naysayers

He didn't disrupt anything. He showed that fringe sports can be monetized. He saw a segment that the big sports networks were ignoring and then built a company around that.

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He didn't disrupt anything. He showed that fringe sports can be monetized. He saw a segment that the big sports networks were ignoring and then built a company around that.

This is the key to wrestling's survival in the next 25 years.  Forget the pipe dream of expanding the sport into the mainstream and monetize the few million built in fans.  Flo showed how it could be done, they just failed to deliver to the customers they monetized.  Hopefully this is the start of them delivering on the awesome promises they make.  

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