Salon has owned the WELL for quite a few years, allowing it to be its own thing and sustain its vibrant community of conversations. Now the WELL has been sold – to a coalition of its members.
SAN FRANCISCO, Sept. 20, 2012 — Salon Media Group (SLNM.PK) and The Well Group, Inc. today jointly announced that The WELL is now under the ownership of The Well Group, Inc., a private investment group composed of long-time WELL members.
The Well Group, Inc. consists entirely of long-time WELL users with an average tenure exceeding 20 years. The purchase marks the first major online business taken private by users of the business itself.
The WELL represents one of the earliest platforms for online dialogue, supporting lively debates and conversations since its founding in 1985. The Well Group, Inc. is excited to take over the management of The WELL, and continue offering the valuable products and services that subscribers have come to expect over the years.
“The WELL welcomes the opportunity to support its existing base and extends an invitation to like-minded individuals looking for a social network that puts the free exchange of ideas at the forefront,” explained Earl Crabb, CEO of The Well Group, Inc. “We are extremely grateful to Salon Media Group for working with us to make this transition a success.”
“In a world where online platforms come and go, this is a testament to the dedication of a truly remarkable community,” explained Cindy Jeffers, CEO of Salon Media Group. “As a true pioneer of the digital age, and a forerunner of today’s ubiquitous social networks, The WELL has played a central role in the origin of countless creative endeavors and cultural movements. We wish The WELL countless more under their new management.”