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PLUS: MacKenzie Scott’s philanthropy, visualized.
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August 20, 2021
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On Tuesday, we asked if any of you secretly work a 2nd job. Thank you so much to all who answered. You shared some crazy stories, and we dropped a bunch of them down below.
</p>
<p style="font-size: 16px; line-height: 20px; padding-bottom: 10px; margin: 0px;">
Today’s rundown:
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<ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Automattic:
</strong>
How WordPress’s $7.5B parent company is building beyond WordPress.
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Visualized:
</strong>
MacKenzie Scott’s billions in philanthropy.
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
You answered:
</strong>
Readers open up about their secret side hustles.
</li>
</ul>
<p style="font-size: 16px; line-height: 20px; padding-bottom: 10px; margin: 0px;">
Let’s do it.
</p>
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The big idea
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</a>
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<h2 style="font-size: 22px; line-height: 26px; font-weight: bold; margin: 10px 0px 5px;">
Automattic, the parent to WordPress, is a private company you should know about
</h2>
</td>
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<td class="h2020 ignore-defaults" style="padding: 5px 0px 0px;">
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
A long list of tech companies
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
entered
</a>
the public market in 2021, but Automattic, the parent company behind WordPress, is private and thriving.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Earlier this week, CEO Matt Mullenweg
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
announced
</a>
the company’s latest move -- a
<strong>
$250m
</strong>
share buyback valuing the firm at
<strong>
$7.5B
</strong>
.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
The buyback offers current and former employees a chance to cash out some of their equity holdings and increases the value of the company’s shares.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
Just because they haven’t joined the IPO blitz...
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
… doesn’t mean they haven’t been busy.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
The firm has been
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
growing
</a>
on all axes in 2021:
</p>
<ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Fundraising:
</strong>
In February, the company raised
<strong>
$288m
</strong>
in a new round
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Hiring:
</strong>
The company has had
<strong>
371 accepted offers
</strong>
through August
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Acquisitions:
</strong>
The firm scooped Parse.ly, Day One, and Pocket Casts
</li>
</ul>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
These moves are helping Automattic build beyond WordPress
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Automattic, founded in 2005, was ahead of the curve on trends like remote work, open-source, and freemium pricing strategies.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Counting WordPress, the company has a dozen
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
products
</a>
under its umbrella, including:
</p>
<ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
WooCommerce:
</strong>
Flexible, open-source ecommerce platform
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Longreads:
</strong>
Online publisher curating the best long-form stories on the web
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Simplenote:
</strong>
Synchronized digital note-taking app
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Gravatar:
</strong>
Free service offering digital avatars to use across the web
</li>
</ul>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Along with the 3 they’ve made so far, the firm expects to add more acquisitions in the coming months.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Automattic offers a strong rebuttal to the argument that blogging is dead. But with an ever-expanding portfolio, they’ll be prepared if and when that day comes.
</p>
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Introducing our new and improved
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Gone electric:
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In March, Petaluma, a small town in Sonoma County, California,
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became
</a>
the 1st US city to ban future gas station construction. Now, the county’s 9 other towns may follow suit.
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<strong>
Back to school:
</strong>
A recent study from Deloitte
<a style="color: #d62829; text-decoration: none;">
pinned
</a>
dorm decor as a
<strong>
$3.1B
</strong>
industry.
</p>
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<strong>
SoftBank’s sellout:
</strong>
The company
<a style="color: #d62829; text-decoration: none;">
sold
</a>
<strong>
$14B
</strong>
worth of tech stocks last quarter, getting out of Facebook, Google, and Microsoft, and selling stakes in Uber and DoorDash.
</p>
<p style="font-size: 15px; line-height: 160%; margin: 0 0 0 3px; padding: 5px 0px 10px;">
<strong>
Roller coaster rebound:
</strong>
Theme park revenue
<a style="color: #d62829; text-decoration: none;">
started
</a>
rebounding to normal levels last quarter. Disney pulled in
<strong>
$4.3B
</strong>
, Universal did
<strong>
$1.1B
</strong>
, and SeaWorld came closest to its pre-COVID levels at
<strong>
$440m
</strong>
.
</p>
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Visualized
</td>
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<tr>
<td style="padding: 0 0 6px;">
<a style="color: #d62829; text-decoration: none;">
<img alt="MacKenzie Scott philanthropy" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252FMacKenzie_Scott.jpeg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1mH2kC:Y58-Po9J2FFf1U1KyWR6XOkznZYCvVHAHRspuz3riPg" style="height: auto; width: 100%; max-width: 600px;" width="600"/>
</a>
</td>
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<h2 style="font-size: 22px; line-height: 26px; font-weight: bold; margin: 10px 0px 5px;">
MacKenzie Scott has given out billions to charity. Recipients think it’s a joke.
</h2>
</td>
</tr>
<tr>
<td class="h2020 ignore-defaults" style="padding: 5px 0px 0px;">
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
In a mere 12 months, MacKenzie Scott has
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
dished
</a>
out
<strong>
$8.6B
</strong>
in philanthropic grants.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
A recent
<em>
Bloomberg
</em>
investigation tracked down 375 of those grants, worth
<strong>
$4.3B
</strong>
.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
For ~90% of the recipient organizations, Scott’s donations were the largest they’ve ever received -- ranging from
<strong>
$750k-$60m
</strong>
.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Some recipients thought emails from Scott’s team notifying them of the gifts were phishing scams -- which, to us, sounds like a completely reasonable thought.
</p>
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You Answered
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<h2 style="font-size: 22px; line-height: 26px; font-weight: bold; margin: 10px 0px 5px;">
We asked readers if they secretly work 2nd jobs. Their answers are incredible.
</h2>
</td>
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<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Earlier this week, we asked if any of you secretly work a 2nd job -- and you shared some crazy stuff. We dropped some of your stories here, lightly edited for clarity.
</p>
<ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
“I’m a full-time health care business analyst moonlighting as a restaurant chef. I’m doing video conferences with colleagues around the world (camera off) while taking lunch orders.”
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
“I’m a director of sales for a software company. I’m the only employee in my state and most of our business is inbound… This has given me the flexibility to build up my side gig: a bartending company for bachelorette parties.”
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
“I work as a youth pastor full time. I’m not fully remote, but I can be and am most of the week. I also spend Thursday-Saturday running a swimming pool repair and maintenance business.”
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
“I’m a software dev, working 3 W-2’s at around $120k base each. Thursday at 9am I have 2 stand-ups going at the same time. I usually have 1 meeting on my phone with a single AirPod in 1 ear and another meeting on my laptop.”
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
“I work a part-time position at the local post office for insurance benefits. I also have my own company for website design & social media management, plus I edit books for 1st-time authors.”
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
“I’m the COO of a cannabis company in California. I also own a saltwater aquarium business in South Florida, so I’m now a remote COO that balances Google meetings with water changes for 20-25 aquarium clients.”
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
“It’s really easy for me to keep my 3D printer going while I’m doing my full-time remote job, so I started a side hustle making 3D-printed parts for 1996-2002 Toyota 4Runners. Over my first 6 months I did about $10k in sales.”
</li>
</ul>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Thanks to all who answered, and keep an eye out for more upcoming community polls.
</p>
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</td>
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AROUND THE WEB
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<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
🎺
<strong>
On this day:
</strong>
Long before its use in dozens of TV shows, films, and fireworks extravaganzas, Tchaikovsky’s bombastic “
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
1812 Overture
</a>
”
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
debuted
</a>
at the 1882 Moscow Exhibition. The piece commemorates Russia’s defeat over Napoleon.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
💡
<strong>
How to:
</strong>
Trying to think of a unique name for your business? Check out this step-by-step
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
TED talk
</a>
from branding expert Jonathan Bell.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
🥁
<strong>
Cure boredom:
</strong>
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
Incredibox
</a>
lets you design your own music loops. Just choose your musicians, then drag and drop different beats and effects.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
🐍
<strong>
Wild story:
</strong>
The colorful San Francisco garter snake is endangered. But the city’s airport maintains a parcel of land where
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
1.3k
</a>
of them thrive.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
🌳
<strong>
That’s cool:
</strong>
Matt Gordon’s
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
This Song Plants Trees
</a>
is a 31-second track you can add to your Spotify playlists. For every ~100 streams, Gordon earns enough to plant 1 tree. So far, 400 trees have been donated to the Eden Reforestation Projects.
</p>
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<td style="width: 100%;">
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<td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; text-transform: uppercase; padding: 13px 2px 15px;">
Meme of the day
</td>
</tr>
<tr>
<td align="center" style="text-align: center; padding: 0 0 6px;">
<img alt="web developer meme" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Fwab_devlopar.jpeg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1mH2kC:Y58-Po9J2FFf1U1KyWR6XOkznZYCvVHAHRspuz3riPg" style="height: auto; width: 100%; max-width: 500px;" width="500"/>
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<p style="font-family: Helvetica, sans-serif; color: #5f696c; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px; padding: 8px 5px 0px;">
Trung says “this def me.” (Source: Semicolon World)
</p>
</td>
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</table>
</td>
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</td>
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<td style="padding: 0px;">
<table style="width: 100%; border-spacing: 0px;">
<tr>
<td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; text-transform: uppercase; padding: 15px 3px 0px;">
Shower Thoughts
</td>
</tr>
<tr>
<td style="font-size: 16px; padding: 3px 3px 0px;">
<ol style="font-size: 16px;">
<li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
<a style="color: #d62829; text-decoration: none;">
“If you fart for long enough it goes from being mundane to funny to impressive, and finally to medically concerning all in 7-10 seconds.”
</a>
</li>
<li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
<a style="color: #d62829; text-decoration: none;">
“Your pet might have also named you.”
</a>
</li>
<li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
<a style="color: #d62829; text-decoration: none;">
“You can never put the numbers 6 and 7 next to each other on a digital clock.”
</a>
</li>
<li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
<a style="color: #d62829; text-decoration: none;">
“If you enter a traffic circle, drive all the way around it, and exit in the direction you came from, then you have simultaneously done a 180 and a 360.”
</a>
</li>
<li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
<a style="color: #d62829; text-decoration: none;">
“Somewhere in the galaxy a photon from a flashlight you pointed at the night sky when you were a kid is still traveling through space.”
</a>
</li>
<li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
<a style="color: #d62829; text-decoration: none;">
“Ice skating is walking in cursive.”
</a>
</li>
</ol>
</td>
</tr>
<tr>
<td style="line-height: 120%; font-style: italic; list-style-type: none; padding: 4px 0 4px 10px;">
<a style="color: #d62828; text-decoration: none;" target="_blank">
via Reddit
</a>
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SHARE THE HUSTLE
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Over the years, we’ve learned…
<em>
secrets.
</em>
</p>
<p style="font-size: 16px; line-height: 140%; padding-bottom: 10px; margin: 5px 0px 0px;">
The business secrets, tips, and tricks that have helped founders go from zero to millions -- and even
<em>
billions
</em>
-- of dollars.
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Want to see ‘em? Just refer 3 more friends to The Hustle and we’ll send you our curated set of interviews with founders from brands like Zola, AWAY, Vungle, Bonobos, and more.
</p>
<p style="font-size: 16px; line-height: 140%; padding-bottom: 10px; margin: 5px 0px 0px;">
Here’s a message you can use to share with your friends:
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Hey! Do you read The Hustle? It’s the best daily business newsletter out there -- only takes 5 minutes to read and you’ll sound like the smartest person in the room. Sign up here, it’s free:
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<em>
P.S. You can always check your referral count
<a style="color: #d62829; text-decoration: none;">
here
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.
</em>
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Today's email was brought to you by
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Trung Phan
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,
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Jacob Cohen
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,
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Juliet Bennett Rylah
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,
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Rob Litterst
</a>
.
<br/>
Editing by: Brad “Automattic” Wolverton.
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3 years, 11 months ago - news@thehustle.co
✍️WordPress is part of a $7.5B family
PLUS: MacKenzie Scott’s philanthropy, visualized. August 20, 2021 On Tuesday, we asked if any of ...