Andrew Baron, senior partner of Rocketboom, the popular video blog, revealed that former face of Rocketboom, Amanda Congdon, has stopped talking to him and is communicating through her lawyers now. Congdon says she owns 49% of the company, according to Market Watch.
Andrew seems to be a little unsure of what he's doing at this point. Obviously Congdon thought she was so popular that she was going to be signed on by some Hollywood studio, or something of that nature. Now that it's not happening, she's setting her sights back on Rocketboom.
The problem is that Baron is still building up the property and increasing its value with no help at all from Congdon. This seems to be a big mistake to me. If she is indeed a minority owner, increasing the value of the company is not the best thing to do before the issue is settled.
Baron added that "Our audience is up about 100,000 in the last month, to about 400,000 a day, we're all very excited." Congdon's "interim" replacement, Joanne Colan, "totally gets it."
From those figures it shows that since Congdon has left, the audience has increased by more than 100,000 a month. I would make this deal, if I was Andrew, as fast as I could. The growth, along with the added advertisers, is making the company increase in value quickly.
Why should a minority owner receive value for something they're not contributing to?
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