Yesterday, I wrote about PlanetOut’s success in securing new financing to avoid insolvency. Today Jeremy Hooper’s Good As You blog reports that Bill Gates is one of the investors who participated in PlanetOut’s “private placement financing” announced yesterday. The Seattle Post-Intelligencer had the story first and you can read it here.
I don’t think one investment should classify as a trend, but I do think Mr. Gates’ investment is a sign that respected business leaders understand the value and importance of the LGBT community as an audience. And I hope it means that the LGBT business community is becoming recognized as more than a niche market. As our community’s spending power increases, the companies in our community that serve us should grow as well.
Now that PlanetOut has new funding, I look forward to hearing more about their next business moves. For example, I just read an article in Mediaweek about the company’s plans revamp The Advocate and Out. The company’s plans are consistent with the ongoing growth of the market and I hope they indicate growing interest in our community from a variety of audiences.
What do you think? Give us your comments below.
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