in ,

How 19-Yr-Old Boy ‘Pete Cashmore’ Created A Blog In 2005 And Today His Net Worth Hit $120Million

Pete Cashmore the founder and CEO of Mashable has a net worth of $120 million.

At the age of 19, he started Mashable, which soon brought in £2,000 advertising revenue a month. It is now the must-read blog that looks at developments in the fields of the internet, gadgets, and computer technology. Most of his monthly 20 million web visitors are young adults with money to spend. Born September 18, 1985 in Scotland, Cashmore now divides his time between Scotland and the United States. In 2012, Cashmore made Time magazine’s list of the 100 most influential people. He now writes a weekly column on technology and social media at CNN.

Mashable was originally intended to track the fortune of internet giants such as Facebook, YouTube and Myspace. But now the site itself is hot property, attracting 50million page views a month.He now has 44 employees in offices in New York and San Francisco and has about 20million unique visitors a month. Mashable has won numerous awards and has been named a must-read site by Fast Company and PC Magazine.

Cashmore himself was named one of the most influential people in the world by Time Magazine this year, one of Ad Age’s 2011 influencers and placed a Forbes magazine web celeb 25.

How it started

As a teenager Cashmore was in and out of hospital. Spending much of his time in bed, the internet became his friend. He launched Mashable when he was 19 with the aim of explaining technology to a mainstream audience.

Cashmore initially worked on Mashable alone but the site was soon generating £2,000 a month in advertising revenue. This allowed Cashmore to devote himself to it full-time and also take on another writer.

He told website Entrepreneur.com that the biggest challenge in getting the site off the ground was that he didn’t have connections, as he wasn’t in Silicon Valley.

“But I did have an outsider perspective, and as it turned out that was an advantage because there’s a mass market that wants to know what the coolest gadgets are and how to use Facebook, Twitter and other [technology] to get ahead,” he said.

“There’s an advantage to having a certain degree of naivety about the challenges and the way things were before, so you can build something in a completely different way.”

Mashable is a private company, 100% owned by Cashmore. Exact figures for how much it brings in via advertising revenue a month or year are hard to come by but CNN’s interest in buying the site suggests it’s raking it in.

How do blogs such as Mashable make money?

It’s all about advertising. The blog has to be good enough attract enough visitors to convince advertisers that buying space on it is worthwhile and the more popular your blog is, the more advertisers will want to get involved and the more they’ll be willing to pay.

Advertisers will generally be companies related to the subject area a blog covers so companies which advertise on Mashable tend to be technology-related.

Companies can buy adverts on Mashable either on a CPM (cost per page viewed) basis or for a week or month. Ads vary in size and location on the page. Week-long sponsorships are also available for Mashable’s syndicated feed (RSS) which has over 580,000 subscribers.

Mashable also connects with its audience offline too and this also offers sponsorship opportunities.

For example, Mashable Connect began last year and is an annual invite-only conference with high-profile key speakers. Other offline Mashable events include the Social Media Day and the Social Good Summit.

It’s also been running the International Open Web Awards since 2007 to recognise the best online communities and services. Voting is done online with the winners announced at an offline awards ceremony. In 2010 the International Web Awards were renamed the Mashable awards.

Could you be next?

If you’re just starting out blogging the key factor in becoming a success will be picking a subject you can write about regularly – the best blogs are updated at least once daily, with the busiest having several new posts a day.

Once you have built up enough readers you can start approaching advertisers who sell products related to your subject area.

For example, if you were writing a blog about hiking, interested advertisers might be shops or websites that sell outdoor clothes and equipment.

Another option is to earn revenue from sponsored links. A sponsored link means the advertiser pays the blogger to publish a post in which there is a link to their website. Most bloggers will make it clear the post is sponsored in order keen everything transparent and maintain the integrity of the blog.

There are also generic advertising services that will scan the words in your blog post and automatically serve adverts – similar to the way search engines provide advertising based on what people type in. These don’t pay that well, but ensure every page on your site has some advertising on it.

There’s also affiliate marketing. Here, links in posts or in advertising boxes refer readers to sites selling something. The number of people clicking on links is tracked and the blogger earns a commission on any sales.

For example, it’s relatively simple to become an Amazon affiliate – where you can get up to 10% of the money people spend buying things on Amazon if they click on a link to that product from your site. You can also become an affiliate for holiday sites like Expediaorlastminute.com which could work well for a travel blog.

Again, it’s important to maintain the integrity of your blog by only linking to sites that you would personally endorse.

The best way to do this is to relate the adverts and products closely to the content, but only after you’ve written the article. Write something you think is interesting or important, then think “what would a reader like to do next”, if there’s an obvious link to drop in you are providing something useful for a reader making them more likely to click.

This is the model Martin Lewis used in turning MoneySavingExpert from an email into a multi-million pound business – he was always scrupulous to link to the best products whether he made any commission or not, as well as telling people which links his site got paid for.

  Pete Cashmore is the 29-year-old entrepreneur and founder of Mashable.  
cash1

Born in Banchory, Scotland, Cashmore founded Mashable in 2005 at the age of 19 while still living with his parents in Aberdeen, Scotland. Cashmore has served as Mashable’s CEO for just over a decade now.

cash6

When Cashmore was 13, he suffered from complications after a routine surgery for appendicitis, according to Forbes. As he struggled to recover, he missed school for years but took to his computer to pass the time and learn from the internet.

cash7

Over the years, Cashmore subscribed to as many blogs as he could and began to write under aliases for well-known publications. Eventually, he launched Mashable when he was 19. Cashmore told Forbes’ Michael Noer in 2011:
“[The name] Mashable comes from the mashups trend.”

cash3
cash12

He would sleep a few hours in the morning and wake up around noon, working 18 hours straight and writing around 10 articles a day covering social media, technology, and the rise of Facebook, Twitter and Youtube. 

cash2

“It’s all about utility. It’s all about thinking about the reader first and ‘what are they going to get out of this?’ ”

cash9

He timed his work schedule so that he’d hit prime reading hours for the American market. Cashmore’s own parents didn’t really know what he was up to on his computer all the time until the Daily Mail came knocking looking for the kid behind Mashable.

cash15

In 2012, Cashmore, who has an estimated net worth of $95 million according to theNew York Times, was featured in Forbes’ “30 Under 30” in media as well as Time Magazine’s list of the “World’s 100 Most Influential People.”

cash11

Now, Cashmore continues to lead, expand and occasionally serve as the handsome face of the New York-based Mashable.

cash10

He is also seen traveling the world with his girlfriend, Kimmy Huynh, a lifestyle bloggerand PR director for Pro Foods.

cash13
cash14cash8

The influential “Sage of Media” is also seen in the company of celebrities, from British royals to Kevin Bacon and Grumpy Cat.

cash4cash5

Cashmore is also a part-time investor in small media- and tech-related startups.

cash16
Pete Cashmore
Loading...

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Uber

Uber Sells Chinese Operations to Local Rival Didi Chuxing in $35bn deal

Uhuru

Kenya Leads South Africa in African Investments