Source: Religion News Service
USA, April 11, 2002: A co-founder of Beliefnet, a Web site devoted to religion and spirituality, said today that his company intends to file for Chapter 11 bankruptcy protection. A pending sale of the company fell through, and Beliefnet was forced into bankruptcy. It was an innovative concept, putting forward news, resources and discussions for each of the world’s major religions, but like many Internet enterprises, was never successful in making money. The venture capitalists funding it backed out. The company has about 5 million e-mail newsletter subscribers, most of whom receive daily inspirational messages, including Bible passages, horoscopes and daily wisdom from Hindu, Buddhist, Jewish and Muslim sources.