I reported on the celebrity-endorsed company last year from a big data perspective. BeachMint requires the ability to quickly slice and dice terabytes of data and millions of daily emails in able to perform deep, precise customer segmentation by age, income and behavior.
On July 2nd, PandoDaily reported Beachmint’s founders had been ousted from the company and it was returning $20 million in capital to investors. The next day, the company denied any of it as being true. Number seven Technorati-ranked blog, TechCrunch was quick to report the discrepancy. “This doesn’t exactly mesh with reality” the blog remarks.
And the boxing match began.
PandoDaily’s Michael Carney, said “multiple sources” informed him that BeachMint’s board had essentially fired CEO Josh Berman and President Diego Berdakin, and asked them to return their remaining $20 million (of the $73.5 million total) to their investors.
TechCrunch came back to report its journalists had since spoken with Berdakin, Berman, a prominent BeachMint investor and a board member, and the company’s demise appeared incorrect. “In a series of emails and conversations, the founders reported that, in fact, Berdakin and Berman remain ‘100 percent committed to and focused on BeachMint’ and at no time have been asked to step down by the company’s board of directors,” the blog asserts. “Nor were they asked to return any of the money they’d raised.”
True to today’s communication channels, the conversation turned social, and a lengthy Twitter thread ensued. Though, in this case, the ongoing dispute isn’t so much about the BeachMint, as it is about good reporting practice:
As a reporter, I’m offended by @sarahcuda‘s excuse that, “as with most breaking news [our BeachMint story] appears not to be 100% accurate.”
— Andrea Chang (@byandreachang) July 4, 2013
There’s a lot of interest in a startup like BeachMint, and the investors who fund it. William Belk, one of the company’s early employees, noted the company at one point spent over a million dollars a month on multi-channel marketing, managing up to two hundred different publishers, twitter influencers, Youtube influencers and others. Not quite in the boxing ring, but lingering closely near the ropes, Technorati Business-ranked fourth, Business Insider took the finance angle to get into the mix, “The common factor in all of those companies, besides their initial hype and struggles, is one of their investors, New Enterprise Associates (NEA)…”
We’re still in the early rounds folks, and no winner’s been crowned in this battle of the blogs. You can follow all the drama with this Google Alert so you won’t miss a punch!
— Orig. image credit: Mike Bear