Forum Moderators: bakedjake
announced today that its board of directors has authorized divine and several of its subsidiaries to file a voluntary petition to reorganize under Chapter 11 of the U.S. Bankruptcy Code later today.
You can read more about it here Divine filing for reorganization [divine.com]
Sounds like many people are interested in buying out some / all of their assets.
Makes me wonder if Northern Light has enough 'brand' to warrant a relaunch of some kind, since Divine seems to be on the ropes.
What do ya'll think?
Apparently, they won't be appealing the decision, either.
I wonder if Northern Light was ever able to drive revenue for their pay per article model?
My hunch says 'no', but I guess we'll see what happens.
Good old Andrew Filipowski "FLIP" and divine are the talk of the town in Chicago- Divine's Headquarters.
At one point, he was referred to as the Bill Gates of the Midwest and now he is a poster child for the Internet gone wrong. Divine never made up there mind as to who they were. Still I think the majority of Chicagoans haven't a clue. From incubator to content managment and disemination, no one quite knew.
In The May Report today (chicago's local IT gossip), a nasty accusation of personal greed and laziness was asserted as the culprit for the demise of Divine.
I guess after the Computer Associates acquistion of Platinum Tech (at the time the biggest sft. deal ever)Flip just needed a new hoby and it was the Internet. The passion though was gone. I know. I used to work with Flip and was with Platinum at the time of the acquistion.
