For more than two decades, the two investors have watered Salon with millions of dollars. Hambrecht, who launched an investment group in dedicated to the strategy, would famously help persuade Google to use a Dutch Auction when it went public in Salon used its IPO money to pay its debts and go on a hiring spree, but after the dot-com crash its stock plummeted, and the company had to undergo its first-ever round of layoffs only a year after it went public. As of May , the stock was trading at around 10 cents per share. Salon tried mightily to achieve profitability, and out of necessity became one of the first publishers to test out various ways to monetize its site.
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Later, the site would try out a middle-ground approach — if non-subscribers sat through a second video advertisement, they would receive a daily pass to access the site for free. It took a long time to recover from that. During the paywall years, readership and traffic flattened, even as other sites benefited from the mainstreaming of the Internet and the popularity of blogging, said one former staffer.
With the pivoting came a bumpier road in journalistic ambition and quality, as the company continually tried and failed to match expenses with new business ideas. Gingras said he encouraged Hambrecht and Warnock to take the company private.
Previously, the CEO and editor in chief had been treated as equals. In a statement encouraging people to sign up, he warned that a revenue strategy based on aggregation — a shot at the surging Huffington Post — could never support independent journalism. After only nine months, he left the company for the second and final time in May People close to the company said he was pushed out by the board because of a series of expensive and ultimately unsuccessful experiments, which also included an attempt to launch an original video unit called Salon Studios.
Talbot declined to comment for this article. After Talbot left, the board replaced him with Jeffers , a young veteran of The Huffington Post who had joined the company as chief technology officer just a few weeks before. There was a failed paid model. So what does that leave you with? It leaves you advertising.
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After Salon shut down its paid subscription service in , the company saw little financial incentive to invest in the kind of in-depth reporting that people would pay for. At first, Salon just focused on publishing video clips taken from other sources, like popular TV shows, but starting in , the company hired a handful of video producers to begin an original video production unit.
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But above all, the new strategy rewarded aggregation and provocation — in other words, hot takes. Both are easy to produce at scale, since they do not require writers to spend time reporting out a story. In June , we reached our all-time high of Our strategy focuses on growing our user base, which in turn increases our attractiveness to advertisers, leading to growth in revenue. Lauerman told POLITICO that when he implemented the plan, he hoped it would free up other staffers to spend more time on longer, more thoughtful pieces.
Save for Later. Stamped at the page edge with a card pocket page on the inside. Light scuff to the plastic cover. Publication Date: Book Condition: Good. About this title Synopsis: A little boy decides to give up cheating at games, Tom Patchett discovers that he was adopted, and the implications of a dyslexia epidemic at Oxford are a few of the thematic stories in this collection based on life's unpredictability "About this title" may belong to another edition of this title.
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