The obit section of most newspapers websites allows friends to create a memorial for the departed. For 8 years Legacy.com has grown this niche, now powering more than 200 newspapers in the country. Revenue comes from the papers who pay Legacy to manage this, as well as individuals who pay to make memorial pages perminant. They currenlty host guestbooks for about 1 million people each year.
Stopher Bortol was a McKinsey consultant with a growing family who turned to entrepreneurship to reduce his time on the road. He connected with investor Frank Cheswick who had an idea to extend the life of obituaries via the web. They raised $9MM and went through some interations of the business model, but an investment from Tribune Ventures (40% owner) in 1999 helped focus them on their current approach.
Dimensions: 50 people x 8 years x $NDA
Funding: Individual investors, Tribune Ventures
Customers: Newspapers, relatives and friends of the recently departed
Location: Chicago [Evanston] + www.legacy.com
