"Nomad's CFO was incredibly knowledgeable, available, responsive, and utterly unflappable. I came to count on Nomad's CFO at a crucial time at our company, and he always came through."
- Ed Levine, Founder of Serious Eats
Escaping Digital Death
Helping a High Quality News Source Survive
“Initially we reached out to Nomad seeking a basic bookkeeping service provider, but they quickly grew into a trusted and indispensable part of our team.”
- Carl Niedbala, COO
Case Study: Serious Eats
We turned an unclear future for a player in the digital media industry into a successful acquisition with a purchase price 5x above the initial bid from when Nomad Financial engaged.
In Critical Need Of Nomad Financial
After 8 years of building the business, Serious Eats reached a point in its' lifecycle in which it needed to either raise additional funds or exit the business all together. Major changes in the digital media industry put content creators under severe monetization pressure. Shifting to current business models, such as native advertising, would require increased investments. The corporation had no intention of leaving the space but began to seriously consider doing so given the circumstances of their financial reality.
Without a CFO, a controller, or anyone with a working knowledge of financial accounting within the company, the corporation was in critical need of strong financial leadership.
A Strategic Financial Plan Creates Opportunities
Shortly before Nomad Financial entered, Serious Eats was approach with an acquisition offer, but they were ill-prepared. After re-building the financial statements, Nomad Financial was ready to address the acquisition. By combining deep industry-specific knowledge and financial insight from years of experience, the Nomad Financial team prepared a solid strategy for the terms relating to the acquisition. Specifying how to structure debt, equity, cash payout and timing lead to a successful and beneficial acquisition for Serious Eats.
After engaging with Nomad Financial, Serious Eats gained control of the financial aspects of their business.
Serious Eats is now in a position to grow their business.
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