Pando is fighting for its life.
I don’t say that to alarm you — or even to ask for something. Nothing new has happened. Not even a new legal threat (knock wood.)
The past two weeks have been amongst our best ever in terms of new member sign ups and our Pando Patron page is close to sold out. In fact, new member signs up have grown steadily week on week since our relaunch in June. Back then we said we were aiming for memberships to pay for the cost of our entire newsroom. Remarkably, new and recurring membership revenue currently pays for half of our total monthly expenses– not just the newsroom. And that’s all happened in less than six months.
But like all journalism (or — ugh — “content”) companies, or companies that haven’t raised an equity round in two years, or companies whose mission requires they continually piss off the community they “serve”– we are constantly fighting for our life. We have been fighting for four years– in a sense– but really for two years since we decided we were going to get profitable or die trying…