according to the wall street journal’s market watch planetout, inc (the owner of gay.com) received notice from NASDAQ that it’s stock my be delisted (due to the market value not being $5,000,000 of publicly held share). recently planetout,inc sold off it’s gay cruise business as well as it’s publishing business (the advocate and out magazine). in july, they reported nearly $100 million in debt.
while this is sad news (as far as gay business goes) it comes as no surprise. it’s my belief they should’ve never traded publicly, should’ve never bought the cruise business or the magazines. also, one look at gay.com (or planeout.com) shows the companys lack of innovation. the sites haven’t had a new look in quite sometime, and are full of spammers. also, what is the deal with planetout.com?!? i truly hope the company is able to make it. i do think that glbt online market is still a viable market (look at the huge success of manhunt.net). i just think some bad business decisions have really strained this company.
i did read sometime back about a gay.com 2.0. i hope that comes and soon….