Investors Lose Faith in iBelieve.com

Share this content:
IBelieve.com, an e-tail/content Web site geared toward Christians, announced last week that it has ceased operations due to a lack of funds.


The company said the shutdown came after several months of trying to attract additional investors to keep the site running. Since launching last January, the site has attracted more than 540,000 registered members.


"We met or exceeded all of our traffic metrics, experienced revenue growth every month since launch and realized our goal of becoming the leading Christian Internet site," said Jef Fite, president of iBelieve, Grand Rapids, MI. "However, like many other Internet companies, we were not able to raise capital given the market conditions, and we are left without options."


IBelieve halted all e-commerce operations Friday but said it would fulfill orders made before then. Users can access the site's customer care services through an e-mail link for the next few weeks.


In addition, the site expects to lay off its 35-person staff within the next two weeks.


Enews.com, which has been offering Christian-oriented magazine subscriptions to iBelieve viewers since August, said it was surprised when it learned of the announcement. The company did not know iBelieve's funding was dwindling at the time of their agreement, said Andrea Root, spokeswoman for Enews, Washington.
close

Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above