Links and more links...
Scientologist-owned EarthLink Network Inc. announced $15 million of private financing this week to allow it to finish this year. From Reuters:
"The lead investor in the private placement was Soros Fund Management LLC through its Quantum Industrial Partners LDC, which purchased $5 million of common stock in the offering. Additional investors included existing shareholders, certain members of EarthLink's board of directors and management. Proceeds from the offering will enable EarthLink to continue expanding its operations as it continues to strive toward profitability.
"Charles (Garry) Betty, president and CEO of EarthLink added, 'This private financing demonstrates the confidence investors have in EarthLink's business model, and it provides capital to continue to fund EarthLink's growth.' During the past three quarters, EarthLink has decreased its net loss each quarter, while increasing revenue 88 percent to $18.8 million in the second quarter of 1997."
"Scientologist-owned EarthLink Network Inc. announced $15 million of private financing this week to allow it to finish this year. (Soros)"
Thank you! Added to my collection.