Salon.com Raises $715,000 in New

Salon.com Raises $715,000 in New Financing: Salon Media Group has disclosed that it has raised an additional $715,000 in bridge loan financing, from a group of 11 investors. The company also announced that it is in advanced discussions for a new line of credit with a commercial bank. Salon’s three subscription services–Salon Premium, The Well and Table Talk–have amassed over 44,000 active paid subscribers

The investors included co-founder of Adobe Systems Dr. John Warnock, managing director of the McKay Investment Group Rob McKay and CTO of Wink Communications Brian Dougherty, who invested $198,690, $116,845, and $50,000 respectively, and were issued warrants to purchase 99,345, 58,423, and 25,000 shares respectively.

The company will use the capital raised for working capital and other general corporate purposes, according to the latest SEC filing.

For more on Salon.com’s previous financing history, see a story I did earlier, “Salon Receives $500K Investment from Adobe.” (free registration required)

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