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Wednesday, November 13, 2002 Beliefnet Emerges From Chapter 11 Bankruptcy The company operates beliefnet.com, a multifaith spirituality site. Beliefnet sends out over 170 million email newsletters a month to nearly 4 million subscribers and receives about 1 million unique users a month on the website. Beliefnet is also a spirituality content provider for AOL, has a news-gathering and polling partnership with ABCNews, and has published three books with Rodale Press. "Since we're a multi-faith website, I can't say whether this is a reincarnation or a resurrection -- or just good fortune -- but I will say we're alive and well, and grateful beyond words for this second chance," said Steven Waldman, the editor-in-chief and cofounder who also became CEO when the company entered Chapter 11. "The dot-com frenzy came and went, but people's desire for spiritual nourishment persisted, as it has for a few thousand years," Waldman said. He noted that more people use the web for spiritual purposes than for banking, gambling, stock trading or dating, according to a study by the Pew Internet and Public Life Project. Waldman said the company survived in part because of the "incredible dedication of our staff, outside columnists, advertisers, and, most important, our visitors, who continued their tremendous support for the website. We all felt that given what's going on in the world, we need more, not less, religious understanding." Waldman also praised two employees who were able to take on dramatically expanded roles: Sujay Jhaveri, who was named the company's president, after serving for a year as VP of Business Development, and Elizabeth Sams, who was named Executive Vice President, after being executive producer. "They were asked to perform miracles, and they did," Waldman said.
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