But the social network’s advertising revenue grew 18.4% during the quarter.
Fashion magazine veterans will edit the luxury title, set to launch in fall.
Du Jour, the upcoming digital and glossy print magazine backed by flash-sale e-retailer Gilt Groupe Inc., has announced several top hires. Gilt, No. 49 in the Internet Retailer Top 500, hopes to use the magazine to connect with upscale consumers. Gilt is working with publishing firm Binn Group and magazine distributor Hudson Media Inc. on the planned fall launch of Du Jour.
Taking over as co-editors-in-chief are Keith Pollock and Nicole Vecchiarelli. Pollock was editorial director of Elle.com, and oversaw the launch of the fashion magazine’s iPad app, says Jason Binn, a former publishing executive in charge of Du Jour who also serves as a strategic advisor to Gilt Groupe. Vecchiarelli comes from InStyle magazine, a fashion and celebrity lifestyle publication, where she was senior editor.
“Keith and Nicole will raise the bar for style and sensibility in this industry, helping to redefine what a modern on- and offline magazine can be, and inspiring an audience that is second to none,” Binn says. “I am excited to have them as partners and to leverage their skills, experience, and long-standing success record to bring my partners’ and my year-long vision to life.”
Other hires include:
• Alan Katz as chief revenue officer. Katz was a publisher of New York magazine.
• Cynthia Lewis as vice president of sales. She was a vice president and publisher at Marie Claire, a women’s fashion magazine.
• Max McDonnell as associate vice president of product development. He was CEO of Lonnymag.com, which covers home décor.
At the Internet Retailer Conference & Exhibition 2012, Alexis Maybank, chief marketing officer and co-founder of Gilt Groupe, will give a keynote address entitled “Innovative ways to connect with today’s consumer.”