PandoDaily.com, which covers tech news, is denying that it is having financial trouble, reports Rebecca Greenfield of The Atlantic Wire.
Greenfield writes, “Pando Daily founder Sarah Lacy has categorically denied her site has financial woes. ‘We never even raised $4 million so that’s obviously bullshit,’ she told the Atlantic Wire. Pando launched with $2.5 million in funding back in January of 2012 and they had a smaller round of funding in May of this year to bring it up to $3 million. So, yes, that part of Lyons’s story is technically impossible.
“Further, however, Lacy denies any financial problems at all. ‘We have plenty of money in the bank,’ she said, adding that both of their fundraising rounds have been oversubscribed. Lacy suggests that Lyons’s sources are ‘probably from a figment of his imagination — like most of Dan Lyons’s reporting.’ The two have had an on-going beef for years. Lyons has had a history of demonizing Lacy, she claims.
“Another person chimed in, claiming that he too had ‘sources’ claiming investors asked Lacy to leave and to give back the remaining $56,000. That, however, seems to be a joke relating to a controversial post from Pando Daily last week, which alleged that six sources told Pando Daily of that exact situation at Beachmint—only to have the Beachmint CEO deny it.”
Read more here.
PCWorld executive editor Gordon Mah Ung, a tireless journalist we once described as a founding father…
CNBC senior vice president Dan Colarusso sent out the following on Monday: Before this year comes to…
Business Insider editor in chief Jamie Heller sent out the following on Monday: I'm excited to share…
Former CoinDesk editorial staffer Michael McSweeney writes about the recent happenings at the cryptocurrency news site, where…
Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…
Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…