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Salon.com Acquires the Well Adds Online Original to Growing Network of Sites SAN FRANCISCO, CA, APRIL 7, 1999 | Salon.com (formerly Salon Magazine), one of the Internet's leading content and community sites, announced today that it has acquired The Well, the subscription-based online community founded in 1985. Salon purchased The Well LLC from Rosewood Stone Group, a Marin County venture capital firm. Terms of the acquisition were not disclosed. Says David Talbot, Salon's founder and chief executive officer, "When we started Salon in 1995, we looked to The Well as a model for community-building that the Net makes possible. The Well's distinctive reputation for thoughtful and intelligent online discussions fits strongly with our network of high-quality content sites and our existing community, Table Talk. We've built a strong following with Table Talk, and now with the acquisition of The Well, we can further cement our leadership in this area." Salon.com will continue to operate the Well as a separate online community. The Well, founded in April 1985 by Whole Earth Catalog publisher Stewart Brand and technologist Larry Brilliant, has been described as the world's most influential online community. Today, it remains a members-only online community dedicated to intelligent conversation. A unique and world-famous community of writers, technologists, thinkers and quirky pundits exchanges information and opinions on topics ranging from jazz to Java, from gardening to Generation X. Membership in The Well, which includes unlimited participation in hundreds of conferences, with an optional Well home page and e-mail account, costs $10 or $15 per month. Says Bruce Katz, principal of Rosewood Stone Group and former Well owner, "The Well and Salon have a shared heritage of stimulating conversation. With its 200-plus hosted discussion areas, The Well is a great fit with Salon's interest in enabling and developing online communities." Adds Gail Ann Williams, The Well's executive director, who will continue in her role: "We have considered Salon to be a sister site for some time and are delighted with this news." Says Michael O'Donnell, Salon's president and publisher, "The Well is a welcome addition to Salon.com, not only because of its illustrious history but because of its business model. As a paid subscription business, The Well will provide Salon with new revenue sources, in addition to our advertising, e-commerce and syndication business. We look forward to the opportunity to marketing The Well to our existing audience and adding further resources toward growing The Well's membership." In 1998, Salon hired Cliff Figallo, an early director of The Well, to fill a new post as Salon's community development director. Figallo will continue to run Table Talk and help develop Salon's communities businesses. Salon.com was founded in November 1995 by David Talbot. Salon.com is a daily network of original content sites covering news, technology, entertainment, books, parenting, sex, travel and health. Salon.com has won most major Web awards including three straight Webby Awards (1997, 1998, 1999) along with Time Magazine's "Web Site of the Year" in 1996 and Entertainment Weekly's "Best Web Site" for 1997 and 1998. Salon.com's sites average 1.2 million visitors and 13 million page views per month, and have attracted more than 175 advertisers. Salon.com is located at www.salon.com and via AOL keyword Salon. - - - - - - - - - - - -
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