ContentNext Revenue Less Than $3 Million in 2007?

We hear from someone with knowledge of the deal that ContentNext, the company Rafat Ali sold to the Guardian News & Media group for a reported $30 mm, had revenues of “a few million” in 2007. (When we spoke with Ali, he declined to comment on any financial information.) The site does have a growing conference business and jobs section, and recently relaunched “research support” Ali tells us, but an estimated 10+ times revenues valuation seems high to us.