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Insiders say once-buzzy Quartz is on track to lose money again this year as it faces a subscription shortfall

Insiders say once-buzzy Quartz is on track to lose money again this year as it faces a subscription shortfall

12.9.2019

Insiders say once-buzzy Quartz is on track to lose money again this year as it faces a subscription shortfall

A new membership program is less than halfway toward its 2019 goal, according to insiders, who added the company is on track to lose money this year.

Buzzy business news startup Quartz made headlines in July 2018 when it sold for as much as $110 million to a Japanese media company at a time when other digital media companies were selling for a fraction of their announced value.

The company's co-CEO said Quartz was doing fine and that membership was showing"steady progress."

It was a win for digital news at a time when other online media companies were selling for a fraction of their announced value. Quartz's new owner, Uzabase, was little known in the US but its founder Yusuke Umeda expressed no shortage of ambition,

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Internally, the goal was to get 20,000 members by the end of 2019; multiple sources said as of this summer, it was less than halfway there.

Read more: Business Insider

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