Ozy Media’s Carlos Watson Says It Is ‘Going to Open for Business’

Mr. Conway, who mentioned he had invested $50,000 of seed funding in Ozy in 2013, mentioned he had lengthy had doubts in regards to the firm’s long-term viability. In February 2018, he mentioned, he despatched an e-mail to Mr. Watson advising him to reduce prices and search a purchaser for the corporate as a backup.

“He didn’t try this,” Mr. Conway mentioned, “and now look the place these poor workers are sitting.”

Mr. Watson didn’t reply to a request for remark about Mr. Conway’s remarks.

The tip of Ozy appeared sure on Friday, when the corporate’s board launched an announcement saying “with the heaviest of hearts that we should announce right now that we’re closing Ozy’s doorways.”

The obvious finish got here after Mr. Watson and the opposite remaining board member, Michael Moe, the pinnacle of the Silicon Valley funding agency GSV Ventures, concluded that the corporate couldn’t recuperate. They issued the farewell assertion via a spokeswoman.

It was not clear on Monday how Mr. Watson would execute his said plan to reopen Ozy, whose web site appeared to not have been up to date since final week. The final version of one in all its day by day newsletters, “The Presidential Every day Temporary,” was despatched on Thursday. On Monday, emails despatched to Ozy’s vp of communications bounced again as undeliverable.

Within the days earlier than the shutdown announcement, a star journalist, Katty Kay, stop Ozy; the Ozy board employed the legislation agency Paul, Weiss, Rifkind, Wharton and Garrison to examine the corporate’s “enterprise actions” and management crew; and the board chairman, Marc Lasry, introduced his resignation.

On Monday, an individual with information of the matter mentioned that the Paul, Weiss investigation of Ozy is not going to go ahead, as a result of the Ozy board members who commissioned the legislation agency are not with the corporate.

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