Salon gets $500K from Adobe Systems (Another cash infusion needed to stave off death!)

CBS Marketwatch.com ^ | March 11, 2002 | David B. Wilkerson

[Timesink]

Salon gets $500K from Adobe Systems

By David B. Wilkerson, CBS.MarketWatch.com Last Update: 5:04 PM ET March 11, 2002

SAN FRANCISCO (CBS.MW) -- After the market closed Monday, Salon Media Group Inc. said it has received an additional $500,000 in funding from network publisher Adobe Systems Inc.

Adobe was one of the online magazine publisher's original investors in 1995. Adobe has now participated in four rounds of funding.

Salon (SALNC: news, chart, profile) rose 1 cent to 14 cents ahead of the news. The stock was moved from the Nasdaq National Market to the Nasdaq Small Cap exchange last year.

A company spokesman was not immediately available for further comment.

In January, Salon said it had $2.1 million in cash available as of Dec. 31, compared to $2.9 million at the end of the September period. Cash burn is a primary issue for online media companies, many of which were forced to close over the past year due to lagging advertising revenues.

Michael O'Donnell, the company's chief executive, said the company believes it can reach cash flow profitability in 2002.

David B. Wilkerson is a reporter for CBS.MarketWatch.com in San Francisco.

[Timesink]

Oh well, if liberal Silicon Valley morons want to put good money after bad, who am I to say no?

[Timesink]

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[hole_n_one]

WTF?

[SunStar]

I'm glad I never paid for any of Adobe's software...

[cactmh]

How about a FReeper fundraiser to buy this POS!? LOL

It would be classic!

[Drango]

I'm glad I never paid for any of Adobe's software...

LOL...Salon is worth just about the same as Adobe's software.

[hole_n_one]

$600.00 for PhotoShop 7.0

That's obscene!

[Registered]

Photoshop is stinky.

[hole_n_one]

Photoshop is stinky.

Then I can safely assume that you don't utilize it since your work is in no way, shape, or form considered as stinky.

[concerned about politics]

Typical liberalism. Always sponging off someone else to survive. Why don't they get a real job!

[concerned about politics]

PS...Try not to give Salon any hits, no matter how strong the propaganda for FReepers to do so. Any article posted from Salon will have it's link. Try to refrain. :-P

[Drango]

Lexus is a MAJOR advertiser (enabler?) on Salon…give ‘em a call…:-)

http://www.lexus.com/contact.html

The Lexus Customer Assistance Center
Monday - Friday, 6:00 a.m. - 5:00 p.m. PT

Phone: 1-800-255-3987 prompt #4
Fax: 1-310-468-2992

Address:
P.O. Box 2991 - Mail Drop L202
Torrance, CA 90509-2991

This is an old article

http://www.studioone.net/in_the_news/articles/digitrends_1.html

…Likeminded Adventuring...

One of the more flourishing examples of such an affinity is Salon.com and its readership of successful, high-income Internet users. Founded in 1995, the media company produces a network of 12 award-winning, original-content sited, maintains the e-commerce gateway Salon Shop and hosts Table Talk and The Well online communities. More than 450 companies have advertised at the site, none more successful than Lexus, which last October renewed its exclusive content sponsorship on Salon for the third straight year.

"Lexus has a well-integrated sponsorship with Salon, both online and offline," says Lisa Miwa, associate director of communications for Team One Advertising, Lexus' advertising firm. "We've built the connection between Lexus and Salon in the Brilliant Careers section and the new Salon People Interview section. Lexus is integrated in the masthead and a vertical right-side logo as well as integrated in the copy, which it helped develop. The sponsorship is purely a brand-awareness campaign, but the relationship is both online and offline."

The high-profile auto manufacturer tracks the amount of overall impressions it receives at Salon sites, as well as the number of viewers, and whether the sites deliver sales. A third-party tracking service, MatchLogic Inc., verifies that Lexus is getting the numbers reported.

Last year, Lexus sponsored an offline version of Brilliant Careers as a way to secure prospects. It was built around the new Lexus model IS 300, which was launched last June and geared toward younger, techno-savvy consumers. A particularly notable launch, the invitation-only event at the Bay Area's Yerba Buena Museum included a panel discussion with media and entertainment gurus about the fusion or art, entertainment and technology. "There's definitely a trend to merge online and offline sponsoring," says Miwa, "and we're always looking for new ways to create a greater impact." Lexus anticipated 300 guests but ended up hosting twice that number, including an enthusiastic hoard of gate-crashers. The high response is largely attributable to Salon's halo effect on its sponsor.

A strictly online event created last summer to attract the IS 300 target market proved even more popular. Working with Salon, Lexus created an edit bay at the site, complete with running footage, sound and still shots. "We encouraged viewers to create their own 30-second IS 300 ads," explains Miwa. "Viewers voted online, and the designer of the most popular ad won an IS 300. We also ran the ad on TV. In terms of driving traffic to view the IS 300, it was very successful." An 18-year-old Bend, Oregon youth became the talented winner, which also indicated to Lexus that it was right on target in terms of its projected consumer market.

"The form of measurement is still evolving, " says Miwa. "Different levels need to be built into each sponsorship. The message is important, and so is the environment in which the message is delivered. Sponsoring gives us more options but doesn't eliminate what's gone before."

Other Lexus partnerships include an exclusive with E*TRADE which it has held since last June. Lexus set up an online trading game, gave viewers play stock and allowed them to play the market. The highest portfolio at the end of the contest won the Lexus.

snip...

[CyberAnt]

Well ... I guess I won't be buying any Adobe products!!

[Drango]

Ping*Ping

[Tennessee_Bob]

Don't be silly. Everyone knows that Registered uses only Microsoft Paint to do those awesome images!!

[SamAdams76]

Thank God my computers use TrueType fonts.

[garbanzo]

I'm wondering what the shareholders of Adobe think about the company's managers? Exactly where's the upside for the shareholders?

[EternalHope]

Michael O'Donnell, the company's chief executive, said the company believes it can reach cash flow profitability in 2002.

LOL!

[Fintan]

Maybe they can use that 500 grand to pay Clinton to give a speech in the Salon lunch room.