Salon blues
- Posted by Kati on February 22nd, 2003 filed in Lifeblog in english
Oops, the end of Salon? SFGate reports that salon can’t pay it’s rent, and is in deep financial trouble… meaningful quote from the article: “Salon reported a loss of $1.3 million on $1.1 million in revenue in the last quarter of 2002. (…) Over the years, Salon has accumulated losses of $81 million.”
Yikes. I loved Salon, even though i stopped reading it regularly quite a while ago… but i just cannot comprehend how they could let those figures happen. I once worked for a dotcom who burnt through 3 million US$ cash in half a year and then went bust because investors stopped putting money in it. The key phrase being “investors stopped putting money in it”. After 3 million. Not 81 million.