When we started DreamHost in 1997 we had two goals in mind.
1. Get chicks.
2. Get rich.
Most of us have taken care of number one.
Number two has proven to be slightly more elusive.
It’s been a little harder to push out, you might say.
Indeed, we’ve seen many of our competitors get gobbled up by “EIG” over the years. The acquired companies usually retain their branding and avoid making any mention of EIG on their websites.
So exactly what does EIG own? As far as we could tell (from this list and in chats with various sales teams), 37 web host brands. Maybe more.
Collectively they represent an enormous customer base and may even make EIG the largest “hosting company” in the world.
Some you’ve never heard of. Some you definitely have. Some were large. Some were tiny. It makes no difference to the insatiable maw of the Endurance International Group! They’re like a scrap metal magnet for web hosts! (Or wrecking ball, depending on who you ask…)
And while EIG and others have certainly approached us regarding a buyout in the past, the money has never really been good enough for us to pull the trigger.
I’m happy to report that our key stakeholders flew out to Massachusetts last night, signed the paperwork, and it is DONE! DreamHost is now officially owned and soon-to-be operated by EIG.
They bought us for 10 times our annual revenue.
Two of our four founders will also serve on the EIG board.
Many of our employees were made into millionaires overnight.
DreamHost is the latest web host in a long line of hosts to join the EIG family.
We couldn’t be more thrilled!
DreamHost customers can expect some emails from EIG shortly that will lay out the transition process and explain how they intend to migrate our customer data over to their own unified hosting system.
This is all happening just in time, too. Do you have any idea how sick we are of doing all this? The hardware failures, the endless stream of incoming tech support, writing these insufferable blog posts…UGH.
Our web panel will unfortunately not be making the journey to EIG, so I hope you guys like cPanel!
I was sad to see it go too, but I’m staring at FIVE POINT THREE MILLION DOLLARS in my bank account right now.
Five. Point. Three. Million.
I keep refreshing my online banking just to make sure it’s still there.
So shit, cPanel for everybody!
Yeah, I said shit. What’re they going to do – fire me? Well they can’t fire me because I QUIT. I’m buying a yacht and moving to Laguna Beach.
As a DreamHost old timer I’d like to thank you for sticking with us up to this point, but I have five point three million reasons not to care what you do with your hosting anymore. HASTA LA VISTA!
We’ll be updating this post tomorrow with some additional details for DreamHost – I mean EIG – customers that should help to ensure the transition goes as seamlessly as possible.
Update 4/2: April Fool’s.