Three years ago, Fred Mwangaguhunga launched MediaTakeOut.com, a blog focusing on urban gossip that is beating similar sites run by much larger companies.
Fred Mwangaguhunga started his career capturing stories on film as a wedding videographer, a far cry from the gossip mogul he is today. But maybe that first college job augured where he’d end up: in the media hot seat, where photos and video footage of intimate moments are the coin of the realm. Mwangaguhunga is the founder and CEO of MediaTakeOut.com, a blog-style gossip website that caters to urban readers. The snarky, urban MediaTakeOut is known for breaking news that’s often picked up by CNN, NBC, People, the New York Post and TMZ, and advertisers are buying the hype — literally. The site gobbles up ad buys that used to go to competitors AOL Black Voices, BET.com and Essence.com, while its traffic has continually surpassed them as well. The lawyer turned serial entrepreneur, now 35, shows no signs of backing down. Watch out, Perez Hilton. He recently spoke with Inc.com senior editor Nicole Marie Richardson.
What led you to start MediaTakeOut.com?
I had a laundry business called Laundry Spa that was essentially a web-based business. Clients logged on, scheduled a pickup time and delivery time, chose a fragrance for their clothes, and we’d come pick it up and deliver it back to them. Business took off after we got a write up on the Daily Candy blog site. At Laundry Spa, we spent our ad budget on blogs. At the time, the idea of blogs was that they were really a niche only for the ultra-techie. After I sold my laundry business, I looked at the blog world and saw the growth they’d had. I thought this could be something bigger than a fad, or even if it is a fad, it’s a fad that could last years. I didn’t have anything else to do at the time, so I thought, let me just try this.
What were your start-up costs?
It cost $19.99 for the Yahoo account and about $7.99 for the domain name. Because I’m from a small business background, I operate this as a small business. We’re lean in everything we do, and every expense is looked at to see how it will affect the bottom line. I want to maintain profitability and grow organically.
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