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Serena Williams Husband, Alexis Ohanian tweeted about selling Reddit for $10 million in 2006, as his mom was dying of cancer

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Alexis Ohanian tweeted about selling Reddit for $10 million in 2006, as his mom was dying of cancer

These days, start-up investor Alexis Ohanian is perhaps best known for being married to tennis legend Serena Williams. But Ohanian is also famous for co-founding Reddit. And just as famously — or infamously — he and his co-founders sold Reddit 14 years ago for what turned out to be pennies on the dollar compared to its most recent multibillion-dollar valuation.

On Sunday, Ohanian, 37, published a string of tweets reflecting on the deal.

“Halloween is always a surreal holiday for me, because on Halloween 2006, we sold Reddit to Conde Nast,” Ohanian tweeted Sunday, the day after Halloween. “The deal was months in the making and I wish I’d had more advisors around the table giving me more perspective on the sale.”

For one thing, Ohanian confirmed the amount for which publishing company Conde Nast paid for Reddit in 2006: $10 million. In 2019, Reddit raised $300 million in a Series D investment round led by the Chinese internet company Tencent, which valued the platform at $3 billion.

But when Ohanian made the deal, $10 million was more money than he had ever seen.

“I thought I was getting away with something because for 16 [months] worth of work, I was getting more money than my parents had made their entire working lives,” says Ohanian, who co-founded Reddit after he graduated college in 2005 with Steve Huffman and Aaron Swartz.

Ohanian’s father, Chris Ohanian, is a small business owner (he is the founder and owner of Infinity Global Travel in Taneytown, Maryland, which he started in 1998), and his mother, Anke Ohanian, was a pharmacy technician.

But Ohanian tweeted that, at the time, it was his mom’s illness that “weighed on me the most.”

“She was diagnosed with terminal brain cancer just a couple months into founding the company, so the idea of rewarding her life-long unflagging confidence in me with a $10 [million] exit was tremendously appealing,” Ohanian tweeted. Anke died in 2008

Looking back, Ohanian knows now that he needed guidance.

“I wish I’d had an investor tell me there were other options (like raising a Series A!) and there would be a path to much greater things given how fast the audience was growing at a time when our engineers had basically stopped working on the product,” Ohanian said.

Ohanian also said that he had pitched Reddit to the leadership of WPNI, Washingtonpost.Newsweek Interactive, which was then the online publishing subsidiary of The Washington Post Company that operated news and information sites, including Washingtonpost.com, Slate, Newsweek.com and Budget Travel Online.

“They did diligence on a potential acquisition of Reddit but didn’t want to compete with Conde Nast’s offer, so they passed,” Ohanian tweeted.

(WPNI is now defunct. Molly Gannon Conway, a manager of communications at The Washington Post, tells CNBC Make It, “We have no record of this,” when presented with Ohanian’s tweet. Ohanian did not immediately respond to further request for comment.)

After Reddit sold to Conde Nast, Ohanian, then 23 years old, stayed on for three years. In 2014, after Reddit CEO Yishan Wong resigned, it gave Ohanian the opportunity to return as executive chairman and lead the company he sold prematurely. Co-founder Huffman returned as CEO in 2015.

Ohanian saw Reddit’s potential: “In spite of us being gone for half a decade, the company had not really changed,” Ohanian told CNBC in 2016. “It kept growing. That’s rare. In any industry, lack of innovation will hurt you. In tech it almost guarantees it will kill you,” he said. “We saw something in Reddit in the half decade we were gone. … The site was not changing, but it kept growing. Growing despite not changing.”

In June, Ohanian resigned from the board of directors of Reddit, recommending that the company replace him with a person who would make the board more diverse. Reddit replaced Ohanian with Michael Seibel, a Black man who is the CEO of the Silicon Valley start-up shop, Y Combinator.

Ohanian, who co-founded early stage venture capital firm Initialized Capital in 2012, is now raising money for a new investment fund, called 776. Ohanian says he is helping other young entrepreneurs avoid making the same mistakes he did.

“All these mistakes are just lessons, and opportunities for growth, and I hope to do a better job guiding the next Alexis Ohanian, 22 and wide-eyed, who is running a startup that I hope will make MUCH better decisions than I did,” the Reddit co-founder says.

“Every single company I back and every single CEO I mentor, gives me a chance at a little redemption.

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‘Rafael Nadal literally thrashed Novak Djokovic’, says former No. 2

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How can you identify the greatest tennis player in the world? What are the parameters to take into consideration? All questions to which there is no real answer. The debate on the GOAT (Greatest of All Time) will probably never end and indeed with the recent victory at Roland Garros of the Spanish champion Rafael Nadal will become even richer.

The Majorcan has now joined Roger Federer at 20 Grand Slam titles while Novak Djokovic chases at 17. Recently, the strong Canadian tennis player Milos Raonic also spoke on the matter and he too declared that the debate on the GOAT will never end.

In conclusion it can be said that there are several additional factors to consider in the debate, beyond the Grand Slam count. Novak Djokovic was ‘literally thrashed’ by Rafael Nadal in the French Open final, says Alex Corretja.

Corretja on the French Open final

“Rafael Nadal literally thrashed Novak Djokovic,” Alex Corretja told sport.es. “And it should be remembered that the Serbian is the current number one in the world and that he has 17 Grand Slams to his credit.

“He defeated him at the most important moment and under the most adverse conditions”. Corretja also stressed just how big Nadal is in Spain, claiming no other Spanish athlete can match his popularity. “Without a doubt, he is the Spanish athlete with the largest number of followers in our country and the audiences support him.

The final had more than three and a half million viewers hooked on television to see Rafa’s new feat”. Rafael Nadal is respected and thought about a lot around the world. And for budding tennis players in Spain, Rafa is their inspiration.

Rafa’s academy in Mallorca, Spain is bringing up top talent into the tennis court. In his career or life, Rafa follows simple formulas to be who he is. The Rafa Nadal Museum Xperience is Rafa Nadal’s first and only trophy exhibition in which, in addition to collecting his 20 Grand Slam titles, highlights of his sporting career are collected from when he started playing tennis until today.

The tour is done through his trophies, but also through the shirts and shoes that Rafa won each of the Grand Slam finals in and played with throughout his career. In addition to knowing firsthand the results of one of the best tennis players in history, in the exhibition area visitors will be able to see the objects donated by some of the main figures in the history of world sport such as Michael Jordan, Fernando Alonso, Pau Gasol, Roger Federer, Mireia Belmonte, Usain Bolt, Serena Williams, Cristiano Ronaldo and many others.

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Rafael Nadal: “Better that a sportsman does not deal with politics”

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The controversy arising from the words of the Swedish AC Milan striker Zlatan Ibrahimovic about LeBron James has caused a sensation in recent days. The experienced AC Milan player praised the qualities of the Los Angeles Lakers basketball player, but at the same time he stressed that as a basketball champion he only had to take care of that and not argue for political issues and that in any case they did not concern him.

LeBron James responded harshly in the conference, but during an interview with Veja the Spanish champion Rafael Nadal, although in different contexts and not dealing with this, wanted to talk about this issue. Here are his words: “Why don’t I want to talk about politics? I am aware of the political situation and I talk about it a lot with my friends and with my team members, I am informed and have my own opinion like any other citizen.

However, I know that if I start talking about politics, everything I say will be taken from a certain context and would make me uncomfortable. For this reason I avoid talking about it, even if I think I have every right in the world to express my opinion.”

Rafael Nadal on his career and on Djokovic
The Spanish champion also stated: “COVID-19 struck me a lot, especially during the quarantine. I couldn’t and didn’t want to train, I didn’t want to do anything.
When we managed to get some situations I resumed training albeit with less intensity, always trying to avoid injuries.

It was a slow process that took place step by step. I changed my routine and the virus undoubtedly hit me. Training without knowing what the next tournament was going to be was tough, we didn’t have any goals. However, playing without an audience was really sad, but I think I adapted to the new situation at Roland Garros.”

On the behavior of Novak Djokovic during the pandemic Rafa declared: “I prefer to talk about how I have lived the last few months instead of judging what others are doing. It was very difficult to observe what was happening and especially about what was happening around me.

We live in a very strict quarantine with thousands of deaths, I remember that between April and June there were over 50 thousand deaths in Spain. I didn’t have the strength to do anything given the situation and I think that given the problems of so many countries it is impossible to relax.”

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Serena Williams looking hot and smart with her daughter Olympia for Stuart Weitzman. VIDEO

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Serena Williams loves spending time and posing with her lovely daughter Olympia. The world no.7 is partnering with Stuart Weitzman, helping to promote the Spring 2021 collection. Serena appeared in a photoshoot and really nice and cute video with Olympia or… the “mini-Serena.”

Serena and her daughter Olympia are inseparable. As per Serena Williams’ coach Patrick Mouratoglou, they have never spent even 1 day apart and the former world no.1 travels around the world to play her tournaments only if Olympia can travel with her.

 

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