Salon turns 10
Salon.com, which has come perilously close to shutting down on numerous occasions, is celebrating its 10th anniversary this week.
"Of all the dot-coms that saw their obituary written when the bubble burst, perhaps none had so many, written so gleefully, as Salon," writes Dan Fost in a San Francisco Chronicle article on Thursday.
"'It felt like it was a gleeful death watch,' said David Talbot, Salon's founder and chairman. 'I understand why the media did that story. It was schadenfreude.'"
Although the stock is down to 23 cents a share from more than $15 in the high-flying dot-com days, venture capitalist Bill Hambrecht, of W.R.Hambrecht, remains convinced his funding of the online magazine has been a wise investment.
"Media properties take a long time to succeed," he said. "USA Today took nine or 10 years to turn a profit. But once you get there, they can be valuable properties."
Salon initially was a hit among the digital literati for its witty and irreverent coverage of technology and culture. The left-leaning Web site made history in 1998 with a story that Republican Representative Henry Hyde, who was heading up the impeachment hearings of President Clinton at the time, had had an affair 30 years earlier.