Our sources say that Revolution Health was valued at around $100 million in the transaction. That comes after burning over $200 million in capital supplied by founder Steve Case as well as celebrity investors like Jim Barksdale (former CEO Netscape), Carly Fiorina (former CEO HP) and Colin Powell (former Secretary of State and Chairman of the Joint Chiefs of Staff).
Everyday Media, which is the primary site under the Waterfront Media brand, is a general health and wellness site with a particular emphasis on popular diets.
Revolution Health has had trouble keeping costs down with around 200 employees and has failed to become profitable despite a rumored $20-$30 million in annual revenue. The company hired Morgan Stanley to shop it around to GE, AOL and WebMD, among others. At one point they tried to merge with Glam Media in a transaction that valued the companies at well over $1 billion.
Revolution Health’s last valuation was rumored to be over a a half billion dollars.