calls it quits

Published on ., the two-year-old, high-profile political Web site whose executive editor was former Watergate reporter Carl Bernstein, threw in the towel Tuesday, dismissing all its staff. In a statement, CEO Justin Dangel said, "financial market conditions worked against us."

Craig Smith, VP-Democratic outreach, said attempts to secure additional financing failed. The site was hurt by falling ad prices and inadequate capital to market new products the site created to beat the ad-price woes.'s demise follows that of, which got heavy media attention at the Republican National Convention last year for its broadband activities. It folded before the November election.

Copyright February 2001, Crain Communications Inc.

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