No publication has a better story about back-end chaos than BusinessWeek.
Before it was acquired by Bloomberg LP, the publication sank a shocking $20 million into the back-end development of Business Exchange, a professional social networking site being built atop a proprietary content management system. Employees blamed BusinessWeek’s bloated tech investment for the company’s financial demise and eventual fire sale to Bloomberg, which paid a paltry sum—reported as between $2 million and $5 million—for it in 2009.
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