Chapters (37)
AFTER BEGINNING another unprecedented year of gains at IDPromotions.com, while hinting at the desire to take the company public, Ivan David was able to sell his start-up website brand in the summer of 2007 for $180 million to Dortch Media Group in northern New Jersey. Included in the deal were company stock options, a salaried president of marketing and consultant position, and a commissioned sales agreement. Ivan also negotiated positions of continued employment for several of his staff members.
After the deal was finalized, with payouts to Ivan’s key teammates in excess of $50 million, Thomas Jones advised him to break the story with the Voice & Viewpoint, the leading African-American newspaper in the San Diego region.
“If I.D. Promotions is planning to focus on more of a national clientele now, then you got nothing to lose by not breaking the story with the Union-Tribune. The New York Times and The Wall Street Journal will still love you,” Thomas joked. “But the story would do a lot more locally to inspire the folks who read the black press by having you break that nine-figure deal on the front page of their paper. You know what I mean, Ivan? I’m proud to even know a young man like you my damn self.”
He added, “Usually you’re reading about some shit like this going down somewhere else. Either that or some young athlete or rap star did the deal. But you’re a legitimate entrepreneur and businessman. That’s a different twist for us.”
So Ivan agreed to the interview over lunch, back at his humble beginnings at Carol’s Soul Food Restaurant in Old Town.
He arrived early in a pair of fine shoes, a casual beige sports jacket, and a purple tie with his white dress shirt and dark blue jeans. He sat down at a corner table toward the back to avoid too much traffic. But after two in the afternoon, many of the earlier customers had headed back to work as expected.
“Hey, Ivan, what are you having?” one of the young waitresses asked him in her all-brown uniform of pants and a tennis shirt inscribed with CAROL’S SOUL FOOD RESTAURANT on the left.
“Let me try that tuna casserole to keep things light,” he told her with a grin. He didn’t want to eat anything too heavy or complicated, knowing that he would be forced to talk a lot.
“And your drink?”
“Lemonade. And tell Carol I said hi back there.”
The waitress smiled. “And you know she’ll come right out to see you before you leave, too.”
As soon as his order was made, the Voice & Viewpoint reporter hurried through the door her cameraman held open for her. They spotted Ivan relaxed in his corner chair and hustled over to him.