It's sometimes hard to believe that someone's first company, much less their first job, can for some people, mean running a company that's valued many millions and has over seven million visits per month. That is reality of David Arabov, the current CEO and Managing Editor of Elite Daily, the site that millennials are flocking to as of recent. Started a mere two years ago, Elite Daily, coins itself as the platform for Gen Y-ers to post and read content that is relevant to them.
Covering anything from dating, the latest headlines in politics and current events to posting humerous videos, it seems as though Elite Daily, is becoming the one stop shop for millennials when it comes to content. As a result, they were able to raise $1.5 million from well-known investors like Greycroft Partners and Red Sea Ventures.
Being a young CEO of a company, is undoubtedly a hard role to play in and of itself but specifically being the media industry calls for consistently being relevant, different and innovative. So how does David and his team do it? In a recent interview with Arabov, gives some insight as to the secret sauce of Elite Daily.
What do you think was the biggest attribute to Elite Daily's success so far?
From the onset we've focused on creating a digital media platform that authentically represents the millennial experience. We felt that existing media publications did not yet have an adequate solution that catered to the diverse needs of millennial readers. The solution we've developed, a content platform powered by and created for millennials, has become the "Voice of Generation Y". We've staffed our editorial team with journalists and editors who have an innate understanding of millennial culture and trends. Combined with our proprietary technology that tracks and analyzes trends across the web, we've created the fastest growing social content platform for millennials.
What do you think is Elite Daily's main obstacle today?
We recognize a need to diversify the scope of our content. Millennials are a diverse, varied group and we will be launching new initiatives to ensure that our content is representative of the wide range of individuals who fall under the "Millennial" umbrella.
In a world where so much content is being consumed on a daily basis (especially for millennials), what do you think draws readers in the most to Elite Daily?
Thousands of sites curate viral content that receives millions of pageviews per day. Few have an understanding of the emotional triggers that power social sharing, and even fewer have a solid enough understanding of millennial culture that would permit them to create content that is actually representative of the lifestyle of millennial and the issues they face. We are our readers. Our staff and contributors are our audience. Rather than gaming likes, Elite Daily has focused on translating the nuances of millennial culture to the digital web.
What would you say are the most important attributes someone needs to have to become a successful entrepreneur?
These vary person to person. In my opinion to become a successful entrepreneur you need to implement:
Can Elite Daily keep up this tremendous growth and traction? It becomes a strong possibility with Arabov's mindset and focus.