green-options-media

How to burn through $800,000 of daddy's money on a blog network

Nicholas Carlson · 04/08/08 05:00PM

A source tells us San Francisco-based blog network Green Options Media will shutter by June, having burned through at least $800,000 in a little under two years. Blame cofounder David Anderson. This "arrogant wankhammer wantrepreneur," in the source's colorful description, funded the blog network with an early inheritance from his father, who now plans to pull the plug on the operation. Still clinging to hope, Anderson is said to be frantically trying to raise money as the blog network burns through $60,000 a month. Problem is: monthly pageviews across the entire 14-blog network have yet to pass 600,000. Update: David Anderson responds in the comments below.