Major News Regarding The Above Network and AboveTopSecret.com, page 1
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Topic started on 26-7-2007 @ 07:57 AM by UM_Gazz

Major News Regarding The Above Network and AboveTopSecret.com


biz.yahoo.com
NEW YORK, July 26 /PRNewswire/ -- In conjunction with its tenth anniversary, The Above Network, the creators of AboveTopSecret.com, the leading source of serious discussion in the "alternative" category with over 3.25 million posts to date, announced today the completion of first-round equity capitalization. The undisclosed six-figure funding amount was provided by a private investment group attracted by the user-centric ideals of The Above Network and free expression advocacy of AboveTopSecret.com (ATS), the arm of the conglomerate where the expansion effort is targeted.
(visit the link for the full news article)


Related News Links:
www.prnewswire.com

[edit on 26-7-2007 by UM_Gazz]


reply posted on 26-7-2007 @ 09:07 AM by SkepticOverlord
Before I comment, and continue to comment, I want to remind everyone of a post I made a few months ago. It's relevant for two reasons,
1) It was created while we were deep in the development phase of designing "The Above Network, LLC"
2) It represents ideals that attracted the right kind of investors to our way of thinking
ATS = Altruism - Trust - Sincerity


Originally posted by marg6043
Even when the tree Amigos will still be the same people that started this very good site, they will not be the main players anymore.

We have equal shares of ownership, and our company charter demands that our combined ownership never dip below majority. Investors who care not to participate in such an environment need not inquire.


Originally posted by bodrul
dont forgot us Small people when your at the top

The Above Network, LLC and our core passion, AboveTopSecret.com is all about the "small people." Everything we've done, and everything we're about to do, is focused on bringing broader awareness of your contributions to the compelling topics on ATS.

Our core "unique proposition" is what ATS has always been, a "User-Generated Content Ecosystem" of diverse opinions on an impossible range of topics. Expanding the ecosystem to give each of our members a larger voice is our prime directive.


We knew this announcement would likely inspire new episodes of "drama" and doubt, but throughout our history we've been very transparent and this is no time to change. Deals like this take time, and we've been crafting business plans and strategies since December of 2006... and we've been in discussions with our ultimate investors since late March. If you've noticed any "policy changes" in that time that might appear to be catered to the type of people you fear being involved with ATS... let me know! 'cause... I can't think of any.

And one final piece of information. We often get serious offers of buy-out, and during our planning stages we gave serious consideration to a significant player who was offering the kind of cash that would enable three partners to pay off their mortgages, dance in the street, and take long tropical vacations. We declined because the deal would split our partnership and take control of ATS away from us. This is our passion... we're not going to let go.


[edit on 26-7-2007 by SkepticOverlord]
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