PlanetOut reaches profitability

By Advocate.com Editors

Originally published on Advocate.com June 04 2003 11:00 PM ET

PlanetOut Partners Inc., the parent company of PlanetOut.com and Gay.com, announced Wednesday that it achieved its first quarter of positive net income, for the quarter ending March 31. This also marks the eighth consecutive quarter of revenue growth for the company. "We are going to be especially proud at this year's pride celebrations, because the gay, lesbian, bisexual, and transgender community can say, 'Our dot-com made it!'" said Lowell Selvin, PlanetOut Partners' president and CEO. "We've succeeded because building a strong online community has--and continues to be--the foundation of our business strategy. Now we are looking forward to investing heavily in even better media, products, and services created for gay people."