E15: Gerard Adams – A $50m Elite Exit

In this episode of 'The Diary Of A CEO with Steven Bartlett,' Gerard Adams shares his journey from a troubled youth to co-founding Elite Daily and selling it for $50 million in his 20s. The narrative unfolds as Adams recounts his early life in Newark, NJ, where he was raised by supportive parents who instilled in him the value of hard work and faith. Despite a brush with the wrong path, including gang involvement and drug dealing, a pivotal encounter with the police led to a second chance, which Adams seized to redirect his hustle into entrepreneurship.

Adams speaks of his first venture, an online publication called Stock Spot, which taught him the ropes of digital marketing and community building. With the help of mentors and an unyielding drive to learn, he navigated through failures and successes, eventually leading to the creation of Elite Daily with his co-founders. The media company rapidly grew to reach 80 million unique visitors, becoming a voice for the millennial generation.

The turning point came when Elite Daily received an acquisition offer from the Daily Mail. Adams describes the internal struggle and external pressures from investors and co-founders to sell the company. Despite his reluctance and a passionate plea to continue growing the business, he eventually conceded, recognizing that the collective decision was a win for everyone involved.

Post-sale, Adams faced a period of depression, grappling with the loss of his entrepreneurial creation and the identity that came with it. This led to a period of introspection and a quest for deeper meaning, which catalyzed his next chapter in life focused on mentorship, personal development, and social impact through his work with Fownders.