PlanetOUT, Inc. Goes Down the Drain
April 10, 2008 @ 4:41 pm
After a huge drop in stocks last year the gay media itself was uncertain of the empires sustainability. Even after a huge financial donation to get the company back into shape (rumored to be from Bill Gates), the company has finally decided to close its doors and was sold to Here Networks for $6 million, reports Ohlala Mag.
Wow, it’s hard to believe that they are only worth $6 million dollars. We weren’t all that surprised though. Back in the days when we requested some photos and stuff from the mag to use on this site their former editors were simply just ignoring us. Let’s hope the Here Networks can catch up with the gay trends. The closing date will be August 31. At the end of 2007, PlanetOUT, Inc. had a workforce of 237.
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August 15th, 2008 at 12:24 pm
[...] site has so far received one offer for $15,000. In comparison to the buyout of PlanetOut, Inc. earlier in April of 2008, which reportedly sold for only $6 million dollars, the guys are [...]