BusinessWeek sinks $16m on social media project September 15, 2009
Posted by Jonathan Hewett in : delicious links , trackbackSounds like a spectacularly large spend for a social networking site, even for a large publishing company. Makes me wonder if there's more to be told. From Brand Republic:
"As the bid deadline for ailing BusinessWeek magazine approaches the McGraw-Hill title is revealed to have spent $16m on creating its social networking site, which is generating little cash.
BusinessWeek launched its social networking venture Business Exchange in 2007. By 2008 it had spent $16m on the site, which is estimated by the New York Time to have generated just $600,000 in revenues."
Comments»
no comments yet - be the first?