Seven-Figure Business In Under 10 Months

Happy Friday!!

What do you get when you merge two trending topics into one?
You get a business that grew from 0 to 250000 subscribers in under 10 months and later got acquired into seven figures, At least, that was the case for Milk Road.

How It All Started?

Milk Road is a cryptocurrency-based daily newsletter founded by Shaan Puri and Ben Levy. Both Shaan and Ben were serial entrepreneurs who tried their hand at different ventures such as e-commerce, e-sports, and even a live-streaming platform that failed badly.
Despite all of their failures, they were hungry for new ideas, and in early February 2022, they decided to take on a project in which both of them had an interest which was cryptocurrency. Thus, the journey of Milk Road started.

Early Stage of Milk Road

It all started as a “Google Document” that the founders used to send to their friends for feedback.
They created a simple logo of a milk bottle using Canva. The only big amount they had to spend very early was on buying the domain “milkroad.com” which cost $2000.
Soon, the newsletter blew up. Within the first three weeks of the launch, Milk Road had more than 16,000 subscribers.
They had a great open rate of 45%, where the industry standard was only 34% at that time.

Open Rate: The percentage of how many people open the email you send. If you have 100 subscribers and 40 people open your email then you will have a 40% open rate.

What Did They Do Differently?

1. All the crypto information that was available at that time was very technical and very hard to understand, so Milk Road articles were made using very plain and easy-to-understand English.

2. Usage of memes heavily in the newsletter. Which was successful in grabbing the reader’s attention and making the reading experience better.

3. Introduced a referral program where, for only one referral, you will get the PDF created by Levy “What 12 Whales Are Betting On.” Which grew a good number of audiences at practically no cost.

4. Leveraging TikTok and Facebook ads. It drove more than 150,000 subscribers for Milk Road.

5. Consistent posting, they send daily emails to keep themselves relevant in the crypto field.

What Went Wrong?

Shaan and Ben invested $1 Million in a public crypto wallet and provided live updates every day about that in their newsletter Milk Road, which drew a lot of attention from the people.
The $1 Million stunt they pulled turned out to be a huge loss as their investment crashed by 70%, but even then it was profitable for them.

The reason behind the profit even after a loss was their subscriber number. The subscribers were growing rapidly as people became very curious about the live experiment that they pulled in. For that, even after a loss, they were moving closer to their ultimate goal which was growing Milk Road.

The Grand Exit of Milk Road

Milk Road was a huge success for Shaan Puri and Ben Levy, but one day, Shaan asked Levy, “How much would you sell Milk Road for?”
To which Levy replied, “Do you want to sell it?”
Shaan again said, “I am not saying that, I am asking for a number.”

The impulse to sell Milk Road came to their mind because they found out that they were passionate about creating a business. However, managing the business day to day is not something both of them were passionate about and at some time they might face burnout.

So in December 2022, they sold “Milk Road” to “Bitfo”, a cryptocurrency-related media company.

Within just ten months (February to December), Shaan and Levy created a newsletter that has more than 250,000 subscribers (Currently 330,000+) and sold the business at a Seven-Figure (Actual amount not disclosed).

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