Planetout com dating
Cascade Investments LLC joined with a number of other private equity vehicles including Special Situations Funds, SF Capital Partners, PAR Investment Partners LP and Allen Company LLC to fund a rescue buyout of Planet Out stock The new investors including Mr Gates will collectively own a majority of the shares in Planet Out, likely (dependent on the details of the private placing) to total 56.3 per cent of the company.
Earlier this month chief executive Karen Magee told Dow Jones that it would take at least 12 to 24 months to turn Planet Out around and that the company may sell its adult businesses.
Planet Out owns The Advocate, Gay.com, Planet Out.com, Advocate.com, Out.com, Out and HIVPlus Mag.com, as well as localised versions of the site in English, French, German, Italian, Portuguese and Spanish.
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