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The specific problem is: In , PlanetOut Inc. On October 14, PlanetOut went public and became the first gay-directed business to trade its stock on a major United States stock exchange, Nasdaq. The initial public stock offering of 4. PlanetOut also maintained ownership of Specialty Publications , publishers of the three largest gay adult periodicals in the United States including Men ,  , Unzipped , and Freshmen.
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Although this was a 93 percent improvement on revenues, the purchase of RSVP was the beginning of the end for PlanetOut. Despite the financial losses, there was still a lot of hope and belief in PlanetOut. The investment came from the sale of roughly The downfall of Planetout was reported to be mismanagement.
In the past, a good chunk of PlanetOut's revenue came from travel bookings, although former CEO Lowell Selvin said in late that two-thirds of the company's money came from matchmaking and dating services and advertising.