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August 24, 2005
The Well is for sale
webcommunities reports that:
The Well, an online community founded in 1985, is to be sold by it's current owner Salon.com. Salon bought the community in 1999 for US $5 million. Since then, it's always managed to turn a profit but memberships (costing $120 to $150 per year) have declined from 6000 to 4000 between 1999 and
today.
Salon expects to achieve a sale price of around $500,000 - about the equivalent of one year's subscription fees. That's probably a bargain if the members themselves buy the community...
More.
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Posted by Mitch on August 24, 2005 11:16 PM | PermalinkTrackback Pings
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