AdWeek :: No publication has a better story about back-end chaos than BusinessWeek. Before it was acquired by Bloomberg LP, the publication sank a shocking $20 million into the back-end development of Business Exchange, a professional social networking site being built atop a proprietary content management system.
[employee:] BusinessWeek not a technology company, so when they tried to build it, they failed.
Employees blamed BusinessWeek’s bloated tech investment for the company’s financial demise and eventual fire sale to Bloomberg, which paid a paltry sum—reported as between $2 million and $5 million—for it in 2009.
Continue to read Erin Griffith, www.adweek.com