Salon raises another $200K from Adobe founder
While Salon has now signed up some 40,000+ subscribers it continues to have financial problems but according to his News.com story one of its existing investors has come to its rescue to provide "breathing room". What I still don't understand about Salon is what the difference is between its premium and regular content -- in fact, I seem to find enough of their good content without paying. This lack of differentiation may be hurting them.
Salon Media Group on Wednesday said it raised $200,000 in a loan from Adobe Systems founder and company director Dr. John Warnock. Issued as an unsecured promissory note, the loan gives the publisher of the Salon.com online news and commentary site breathing room as it seeks to put its history of losses behind it.
Like other Web publishers, the company has battled a tough advertising market, establishing a paid version and other premium services to bolster its bottom line. For now, however, its future appears to rely on the continued support of a handful of key backers, notably Warnock. The unsecured loan follows a $714,000 infusion from the Adobe founder and other private investors in July.