My company (a Delaware C-corp) develops and runs a number of websites that will soon be offering paid accounts. What are the advantages and disadvantages of each website being its own subsidiary, and would it make more sense for the subsidiaries to just be LLCs or additional C-corps?
Advantages that occur to me include separation of liability, possibility of per-site investors, easier to have an exit on one site without selling the lot, etc.
Disadvantages might be more complex accounting, tax, legal fees, etc.
But would like to get a more experienced perspective on these issues.