Early Life
Ric Elias was born in San Juan, Puerto Rico, on May 21, 1967. He pursued his education at Boston College and later earned an MBA from Harvard Business School. His early career involved a role in GE's Financial Management program.
Rise to Success
In 2000, Ric Elias co-founded Red Ventures with Dan Feldstein. The company began just months before the dot-com bubble burst. Red Ventures managed to navigate the challenging economic environment and achieved considerable success over the years. Red Ventures acquired CNET Media Group in 2020 for $500 million. In 2017, the company acquired Bankrate for $1.4 billion.
Key Business Strategies
Red Ventures has a strategy of acquiring and developing a portfolio of digital brands. The company focuses on performance-based digital marketing, generating revenue through affiliate commissions from sites focused on consumer advice, news, and reviews. The company has been noted for its award-winning company culture and its presence in various industries, including financial services, health, travel, and home services.
Philanthropy
Ric Elias is committed to philanthropy and has founded several non-profit organizations. One of the notable initiatives is the Golden Door Scholars, which supports educational and career opportunities for undocumented students. He also founded the Road to Hire program, offering technical training and access to college. Moreover, he founded social enterprise Forward787 to build digital businesses in Puerto Rico and founded Rebuild Puerto Rico to support hurricane relief. He and his wife have committed to donating the majority of their wealth.
