henry copeland: Another one bites the dust... pllqt.it/MfnidD

Two years after buying Elite Daily, the Daily Mail says the Facebook publisher is worthless - Recode

The owner of the Daily Mail, the publisher that bought Elite Daily in January 2015, says the New York-based startup has been a bust, and has written down all of its investment in the money-losing company, citing “poor performance.” It is taking a $31 million loss in the process. […] “audience retention and revenue growth have been disappointing and losses have exceeded expectations,” leading to the write-off.
- www.recode.net