You have had free hosting, no headaches of a hacked site or overloaded server, minimal downtime and a thriving social system all rolled into one.
I think PageRank 4 is incredible - there are millions of sites that would love that! What's your site?
I'll have to look into tumblr hosting - what are the limitations? Do you ever find yourself locked into a blog-like schematic?
But also, if you're so successful with a passive approach, it sounds like you've found a real market demand. Have you considered taking a more active approach given the success? How long would you say this took you to setup initially?
I definitely think the active approach will yield greater results, but right now I'm doing even more interesting things in my day job and other side projects that I enjoy. This gives me the freedom to keep doing those things :)
As for initial setup, I rolled it out in the same afternoon I had the idea and incrementally built on it from there. It's certainly nothing like it was when I began it.
I get awesome hosting for free and a fair amount of flexibility. Yes there are limitations and the admin of the site isn't quite as easy, but when you haven't got much admin it's ok.
The most important reason for choosing Tumblr was the Submissions feature. Visitors can submit a post just as I need it to be. It costs them nothing, it costs me nothing - all the hard work is done (mostly - I obviously need to do some editing, but this is minimal.)
But the absolute killer feature of Tumblr is the queue. Without this, there's no way I could manage the site.
Would I like more features from Tumblr? Sure. Will it happen? Probably not. Do I need those features? Not right now.
I handle all submissions myself, the Twitter feed, Facebook Page, Google+ page... all done by me (with the help of the awesome http://bufferapp.com/)
I use IFTTT (http://ifttt.com) to check for new posts on Tumblr and cross-post to Buffer (Twitter) and Facebook - this isn't perfect yet because I'd like it to use Buffer for Facebook, Twitter and Google+, but IFTTT doesn't support that yet.
Technically the $10/month for Buffer is a cost... but I use it personally and on other projects, so this is obviated by the fact that I would be using it anyway.
I use the awesome BuySellAds (http://buysellads.com) to serve ads. Yes they take a cut and this too is technically a "cost"... but it comes straight out of money I wouldn't be making anyway so I don't see it as a cost.
I also run with a few affiliates and these bring in a little extra revenue.
Each visitor brings about 2 page views on average so 50k visits a month puts me over the threshold. Uniques are at about 70% (I'll leave that as an exercise for the reader)
But to actually turn a profit... I really only need a very small fraction of this. Maybe 10%..?
It's all moot tho, as I need the numbers to be high as this is what gets advertisers paying. Thankfully this comes with a natural abundance of funds making this the most profitable project I've ever worked on
The popularity this brought was untold as hundreds of sites started naturally linking to BWB. I guess being first was the most important thing here.
I've also made a point to make it always free and easy for folks to submit a site. There's no complex review process and no fee (if you don't mind waiting in line). This gets some loyal supporters who are happy to provide new content on a somewhat regular basis.
The knock-on effect has been that Google seems to love the site and now the majority of my visitors come from searches. This despite Tumblr not being the greatest base for SEO.
No "growth hacking" required, whatever that is...
I think this is largely to do with the fact that I don't push affiliates too much at the moment. The effort-return ratio is nowhere near as good as the ads.
It's mostly passive income as I spend no more than a few hours per week actually working on the site. Though I spend considerably more monitoring the stats and feeds etc etc
My biggest win with this site is the extremely low cost to run it - something I want to talk about more if anyone's interested. My only real regular cost is the domain name! Pretty phenomenal for a site that continues to attract thousands of visitors per day :) a model I'm proud of and hopefully can continue!
But of course, all standing on the shoulders of giants! Many thanks has to go to far more talented people than me... both for the site's foundations and it's popularity.