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Liz Murdoch & Disney-Backed Social Network DriveTribe Warns It Could Run Out Of Gas After Coronavirus Crashed The Ad Market

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deadline.com

EXCLUSIVE: DriveTribe, the motoring social network founded by The Grand Tour team and with investment from Elisabeth Murdoch and Disney, has warned that it could run out of cash unless it can mount a sustained recovery from the coronavirus pandemic.DriveTribe was launched by Jeremy Clarkson, Richard Hammond, James May, and Andy Wilman in November 2016 as an online community for car fanatics, with investment from 21st Century Fox (now owned by Disney) and early Facebook backer Jim Breyer.

Murdoch invested £2.5M ($3.3M) in the business last year.In its annual report, DriveTribe said that in a worst-case scenario, in which advertising revenue continues to be ravaged by Covid-19, its cash reserves of £2.2M will not be sufficient “to continue

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