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SAN FRANCISCO–The parent company of struggling online magazine Salon.com on Thursday announced an injection of $2.5 million in cash and the firing of 14 employees to make the money last longer.
San Francisco-based Salon Media Group Inc. said it received the $2.5 million from a group of investors that includes investment banker William Hambrecht, whose firm handled the company’s initial public offering in June 1999. John Warnock, the founder and chairman of Adobe Systems, also invested in the company and joined Salon’s board of directors.
Salon
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