Change The Ratio

What Change The Ratio does

Change The Ratio was a women-in-tech and media community initiative founded in April 2010 by Rachel Sklar and Glynnis MacNicol, who met in a Mediabistro writing class. The venture's core operational product was TheLi.st, a private, invitation-only email listserv built on Google Groups that connected professional women in technology, media, business, and new media for peer support, advice sharing, and networking. The public-facing counterpart was the Change The Ratio Tumblr blog (changetheratio.tumblr.com), which curated content on women in tech and served as the social/content hub for the movement. The initiative also published "The 10 Habits of Highly Successful Women" as a Kindle ebook that reached #2 in the Women & Business category on Amazon Kindle Store.

The legal entity was Lonely Goat Media, a founder-operated entity with no disclosed venture capital or institutional investment. Revenue mechanics are not publicly disclosed, though the operative revenue stream appears to have been recurring membership access to TheLi.st; specific pricing was never published. The go-to-market motion was community-led — growth was driven entirely through the founders' personal networks in media and tech, word-of-mouth referrals, organic social media presence (Twitter, Instagram, Facebook), and event co-hosting at conferences such as SXSW and the Girlboss Rally. Partnerships with Spotify, the Wall Street Journal, Samsung, Mic, and Girlboss were event sponsorship or co-hosting arrangements rather than structural commercial relationships.

The company operated for approximately ten years. In December 2020, co-founders Sklar and MacNicol sold TheLi.st to Ann Shoket and transitioned to advisory roles. The Change The Ratio Tumblr blog ceased active posting around the same period, and the entity is now classified as closed.

Name

Change The Ratio

Legal name

Lonely Goat Media

Website

https://changetheratio.tumblr.com

Company type

Private

Founded year

2010

Operating status

Closed

Headcount range

251–500 employees

Short description

Change The Ratio operated TheLi.st, a private members-only email listserv connecting women in tech, media, and business for peer support. Founded in 2010 by Rachel Sklar and Glynnis MacNicol, the venture was sold to Ann Shoket in December 2020 and is now closed.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Marketing or Sales, Operations, Personnel, Technology or R&D

Revenue model

1. Community Membership: TheLi.st operated as a private members-only community. Revenue model appears to have been based on membership access to the private email listserv, though specific pricing was not disclosed publicly.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Change The Ratio operated TheLi.st, a private members-only email listserv community for women in tech, media, business, and new media to connect, share professional advice, and support each other's careers. The initiative also ran a public Tumblr blog and published 'The 10 Habits of Highly Successful Women' as a Kindle e-book. Founded in April 2010 by Rachel Sklar and Glynnis MacNicol under the entity Lonely Goat Media, the venture was sold to Ann Shoket in December 2020 after approximately ten years of operation.

Product overview

Change The Ratio operates as a dual-platform initiative: TheLi.st is a private, invitation-only email listserv community connecting women in tech and media, while the public Change The Ratio Tumblr blog serves as the content and social hub for the movement. The organization also published 'The 10 Habits of Highly Successful Women' as a Kindle e-book. The venture was co-founded by Rachel Sklar and Glynnis MacNicol and was sold to Ann Shoket in December 2020 after ten years of operation.

Differentiator

Problem solved

Functional benefit

Brands

• TheLi.st: Private members-only email listserv for women in tech, media, business, and new media; operated as the operational platform for Change The Ratio's mission to promote visibility and access for women.

Products and services

• TheLi.st A private, invitation-only email listserv community for women in tech, business, culture, and new media to connect, share professional advice, and support each other's careers. Operated as a closed online community with strict confidentiality and off-the-record content policies.
• The 10 Habits of Highly Successful Women A Kindle e-book publication featuring essays from prominent women including Sally Kohn, Stacy London, and Cindy Gallop, offering career and business advice. Reached #1 bestseller status and #2 in Women & Business category on Amazon.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor and core.

• GirlbossminorStrategic or Co-development Partner · 1 November 2018TheLi.st founder moderated the 'I See Me' panel about representation at the Girlboss Rally 2018.
• SpotifyminorGTM or Marketing Partner · 1 March 2015Spotify sponsored TheLi.st events including the 'Women In Tech: Now What?' panel at SXSW 2015, providing support for women in tech programming.
• Wall Street JournalminorGTM or Marketing Partner · 1 March 2015WSJ co-sponsored TheLi.st events including the SXSW 2015 'Women In Tech: Now What?' panel.
• SamsungminorGTM or Marketing Partner · 1 March 2015Samsung hosted TheLi.st events at the Samsung Lounge during SXSW 2015 and sponsored women in tech programming.
• Mic (MicNews)coreStrategic or Co-development Partner · 1 March 2015Mic hosted TheLi.st events including Sally Kohn interviewing Rabia Chaudry about the Serial podcast case, a highly viewed event on the platform.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Girlboss: Girlboss is a media and community platform for ambitious women in the workplace. It is directly comparable to TheLi.st because both target professional women with curated content, events (Girlboss Rally is referenced in the data), and a community-led GTM motion; TheLi.st founder Rachel Sklar moderated a panel at Girlboss Rally 2018.
• Mogul: Mogul is a content and community platform reaching women worldwide with career and lifestyle content. Comparable to TheLi.st in audience (women in professional/tech careers) and community-led distribution model.
• The Wing: The Wing was a members-only coworking and social club for women. Comparable to TheLi.st as a private, members-only community built around ambitious women professionals, both relying on membership as the core monetization model and exclusivity as the differentiation lever.
• Fairygodboss: Fairygodboss is the largest professional community for women, combining employer reviews, job listings, and community discussion. Directly comparable to TheLi.st in the women-in-the-workplace community category, though delivered via a tech platform rather than a listserv.
• Ladies Get Paid: Ladies Get Paid is a community and education platform helping women negotiate, advance, and build wealth. Comparable to TheLi.st because both are community-led platforms serving professional women seeking peer support, mentorship, and career advancement.
• Levo (formerly Levo League): Levo is a career-development platform aimed at early-career professionals, with a strong skew toward women. It is directly comparable in targeting the same 'women in tech/business/new media' persona that TheLi.st served, though Levo leans on a tech platform rather than a private listserv.
• The Riveter: The Riveter operated as a coworking and community brand for women professionals (now closed). Comparable to TheLi.st in membership-club model and women-in-business audience; both pursued community-led growth around professional women.

Broad incumbents

• Lean In Foundation: Lean In is the Sheryl Sandberg-founded nonprofit advancing women in the workplace via Circles, education, and research. Comparable to TheLi.st as a women-in-the-workplace community/movement; notably, TheLi.st book ranked #2 in Women & Business behind Lean In on Amazon, indicating direct competitive context.

Emerging players

• Chief: Chief is a private membership network for women executives, focused on C-suite and senior leaders. Comparable to TheLi.st as a private, members-only community for women in leadership, but skews more senior and higher-priced in positioning.
• Ellevest: Ellevest is a financial-services platform built for women. Comparable as a women-focused brand, but in fintech rather than media/community; overlap is on audience and brand positioning for professional women.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/thelist
• Facebookfacebook.com/TheListMedia
• Instagraminstagram.com/TheLi_st

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Change The Ratio