The Rise Built on Smoke and Mirrors
Daniella Pierson, the 30-year-old founder of lifestyle newsletter Newsette, has seen her once-celebrated business empire crumble following revelations of systematic exaggeration and self-promotion. The entrepreneur, who appeared on Forbes’ “30 Under 30” list and claimed a $220 million net worth, now faces accusations of inflating subscriber numbers, revenue figures, and company valuations.
Revenue Plummets as Partnerships Collapse
Pierson’s businesses have experienced dramatic declines, with Newsette’s revenue dropping from a claimed $40 million in 2021 to less than $4 million in recent years. The company lost major clients including Amazon and Mattel, forcing Pierson to shut down her profitable Newland agency division entirely by late 2023. Former employees report the company’s staff has shrunk to just one-quarter of its peak size.
Inflated Valuations and Fake Subscriber Claims
Investigation reveals Pierson consistently overstated her company’s metrics to investors and clients. While claiming over 500,000 subscribers in 2022, internal documents showed just over 400,000. Recent business pitches claimed 1.3 million subscribers across three newsletters, failing to mention significant overlap between subscriber lists.
The $220 Million Fortune Myth Exposed
The Forbes valuation that launched Pierson’s celebrity status was based on investor Peter Rahal’s $200 million company valuation – an investment he admits making without reviewing financial statements. Media experts now estimate Newsette’s worth at “no more than $12.2 million,” while Pierson was pushed out of mental health startup Wondermind after clashing with co-founder Mandy Teefey.