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Red Herring (magazine)
Encyclopedia
Red Herring was a technology business magazine, which flourished during the dot com boom, with global distribution and bureaus in Bangalore, Beijing, and Paris. It also sponsored conferences designed to bring venture capitalists, entrepreneurs, and technologists together. But the magazine went into decline with the dot com crash, and ceased publication in 2003. It was relaunched in late 2004 under publisher Alex Vieux and editor-in-chief Joel Dreyfuss
, but again ceased publication in 2007. It is now only published in digital form.
The name Red Herring is a reference to the practice of calling a preliminary investment prospectus a "red herring" as a warning to investors that the document was not complete or final. The name reflects the publication's mission: providing a first look at the companies and trends that are shaping the business of technology.
, and Zachary A. Herlick out of the home of Alden's parents in Woodside, California
. The first product of Flipside Communications Inc. (which was eventually renamed Red Herring Communications), the magazine was quickly popular with Silicon Valley
entrepreneurs, venture capitalists, and the Valley community of lawyers, accountants, bankers and the like who were part of the technology entrepreneurial ecosystem.
Although not launched as an Internet
publication (the commercialization of the Internet was in its infancy in 1993), as one of the leading publications covering high-tech entrepreneurialism in Silicon Valley and beyond, it became a journal of record for the dot com boom. The founders sold stakes in the magazine to outside investors, but as the dot-com bust deepened, the magazine struggled, ceasing publication in 2003.
Later that year, Alex Vieux of Dasar acquired some of the company's assets. In September 2003, Vieux relaunched the Herring as a website with James Daly
as Editor in Chief. The first official issue of the relaunched print publication was published in November, 2004.
magazine with Rich Karlgaard
(who later became publisher of Forbes
). Alden and Herlick, friends since junior high school, had started a computer consulting company and taught computer science prior to partnering with Perkins.
Ron Conway, of Angel Investors, was an early adviser and board member.
, accompanied by the company's first web site. The Venture Market series (including West, East, South, and Europe) ran successfully until 2001 and were accompanied by other events, such as NDA, Venture, and Herring on Hollywood.
The Internet operation grew steadily and peaked in 2000 when it acquired Stockmaster.com.
Ziff Davis
invested $2 million in Red Herring in 1997 for approximately 10% of the company, with Eric Hippeau, then CEO of ZD, joining the Red Herring board. Scott Briggs, a former president of Ziff Davis, joined the board in 1997 as well. Broadview Capital Partners invested $25 million into Red Herring in 2000, with Steven Brooks and Stephen Bachman joining the board.
Red Herring was joined in the late 1990s by competitors such as IDG
's The Industry Standard
, Imagine Media's Business 2.0
, and Time Warner
's eCompany Now. It was also compared to Wired magazine and Fast Company.
Hilary Schneider was hired by the board as CEO in late 2000 and succeeded Alden (who had succeeded Perkins as CEO).
Red Herring's revenues reached nearly $100 million with a staff around 350, but contracted in 2001 and 2002. BCP invested in several additional rounds to help stabilize the organization, which went through several rounds of layoffs. Through these financings BCP obtained control of Red Herring and in 2002 put the company through an assignment for the benefit of creditors (ABC), which is a California
state process similar to a federal bankruptcy
. RHC Media, owned by BCP, bought the Red Herring assets out of ABC and kept the business operating.
After trying unsuccessfully to sell the company, RHC Media decided in early 2003 to cease operations and sell the company's assets. The subscription obligation was sold to Time Inc.
and the Red Herring brand, URL, and Intellectual Property (such as back issues and online content) were sold to Alex Vieux
of DASAR
.
Red Herring re-launched as a web site in the fall of 2003. Red Herring produced several test issues of the print magazine in the fall of 2004 and launched as a full-fledged weekly magazine in January 2005.
The print edition came to an end in 2007, but a digital edition continued, available via the company's web site.
According to Valleywag
, Red Herring had trouble paying its bills. The company was evicted from its Belmont
office in May 2008 and canceled an event in China.
In recent years, Red Herring has been focused in actively promoting the events and awards for new innovative startups, venture capital scene and these events are branded as Red Herring Global 100, Red Herring Europe 100, Red Herring Asia 100.
Joel Dreyfuss
Joel Dreyfuss is a prominent journalist, editor, and writer now based in Washington, D.C. Born in Haiti, Dreyfuss received a B.S in Sociology from City College of New York....
, but again ceased publication in 2007. It is now only published in digital form.
The name Red Herring is a reference to the practice of calling a preliminary investment prospectus a "red herring" as a warning to investors that the document was not complete or final. The name reflects the publication's mission: providing a first look at the companies and trends that are shaping the business of technology.
History
Red Herring was originally launched in May 1993 by Anthony B. Perkins, Christopher J. AldenChris Alden
Christopher J. Alden is an American entrepreneur best known as a co-founder of Red Herring, a magazine focused on the business of technology, and Rojo.com, an early web-based RSS reader.-Career:...
, and Zachary A. Herlick out of the home of Alden's parents in Woodside, California
Woodside, California
Woodside is a small incorporated town in San Mateo County, California, United States, on the San Francisco Peninsula. It uses a council-manager system of government. The U.S. Census estimated the population of the town to be 5,287 in 2010....
. The first product of Flipside Communications Inc. (which was eventually renamed Red Herring Communications), the magazine was quickly popular with Silicon Valley
Silicon Valley
Silicon Valley is a term which refers to the southern part of the San Francisco Bay Area in Northern California in the United States. The region is home to many of the world's largest technology corporations...
entrepreneurs, venture capitalists, and the Valley community of lawyers, accountants, bankers and the like who were part of the technology entrepreneurial ecosystem.
Although not launched as an Internet
Internet
The Internet is a global system of interconnected computer networks that use the standard Internet protocol suite to serve billions of users worldwide...
publication (the commercialization of the Internet was in its infancy in 1993), as one of the leading publications covering high-tech entrepreneurialism in Silicon Valley and beyond, it became a journal of record for the dot com boom. The founders sold stakes in the magazine to outside investors, but as the dot-com bust deepened, the magazine struggled, ceasing publication in 2003.
Later that year, Alex Vieux of Dasar acquired some of the company's assets. In September 2003, Vieux relaunched the Herring as a website with James Daly
James Daly (journalist)
James Daly is a San Francisco Bay Area journalist and owner of 2030 Media, a content-creation firm in Northern California. He is the editor of TED Books, a series of ebooks produced by the TED conference...
as Editor in Chief. The first official issue of the relaunched print publication was published in November, 2004.
Corporate history
Perkins had previously founded UpsideUpside (magazine)
Upside was a San Francisco-based business and technology magazine for venture capitalists. It was published from 1989 to 2002. It had a circulation above 300,000.-Beginnings:Upside was started by banker Anthony B...
magazine with Rich Karlgaard
Rich Karlgaard
Rich Karlgaard is the publisher of Forbes magazine He began as an editor and became the publisher in 1998.A native of Bismarck, North Dakota, Karlgaard graduated from Stanford University, with a B.A...
(who later became publisher of Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
). Alden and Herlick, friends since junior high school, had started a computer consulting company and taught computer science prior to partnering with Perkins.
Ron Conway, of Angel Investors, was an early adviser and board member.
Dot-com era
Red Herring launched an event and an Internet division on the same day in May 1995 when Venture Market West premiered in Monterey, CaliforniaMonterey, California
The City of Monterey in Monterey County is located on Monterey Bay along the Pacific coast in Central California. Monterey lies at an elevation of 26 feet above sea level. As of the 2010 census, the city population was 27,810. Monterey is of historical importance because it was the capital of...
, accompanied by the company's first web site. The Venture Market series (including West, East, South, and Europe) ran successfully until 2001 and were accompanied by other events, such as NDA, Venture, and Herring on Hollywood.
The Internet operation grew steadily and peaked in 2000 when it acquired Stockmaster.com.
Ziff Davis
Ziff Davis
Ziff Davis Inc. is an American publisher and Internet company. It was founded in 1927 in Chicago by William B. Ziff, Sr. and Bernard G. Davis. Throughout most of its history, it was a publisher of hobbyist magazines, often ones devoted to expensive, advertiser-rich hobbies such as cars,...
invested $2 million in Red Herring in 1997 for approximately 10% of the company, with Eric Hippeau, then CEO of ZD, joining the Red Herring board. Scott Briggs, a former president of Ziff Davis, joined the board in 1997 as well. Broadview Capital Partners invested $25 million into Red Herring in 2000, with Steven Brooks and Stephen Bachman joining the board.
Red Herring was joined in the late 1990s by competitors such as IDG
IDG
International Data Group is a technology media, research, event management, and venture capital organization.IDG evolved from International Data Corporation which was formed in 1964 in Newtonville, Massachusetts, by Patrick Joseph McGovern and a friend, Fred Kirch...
's The Industry Standard
The Industry Standard
The Industry Standard is a news web site dedicated to technology business news, part of InfoWorld, a news web site covering technology in general...
, Imagine Media's Business 2.0
Business 2.0
Business 2.0 was a monthly magazine publication founded by magazine entrepreneur Chris Anderson, Mark Gross, and journalist James Daly in order to chronicle the rise of the "New Economy"...
, and Time Warner
Time Warner
Time Warner is one of the world's largest media companies, headquartered in the Time Warner Center in New York City. Formerly two separate companies, Warner Communications, Inc...
's eCompany Now. It was also compared to Wired magazine and Fast Company.
Hilary Schneider was hired by the board as CEO in late 2000 and succeeded Alden (who had succeeded Perkins as CEO).
Red Herring's revenues reached nearly $100 million with a staff around 350, but contracted in 2001 and 2002. BCP invested in several additional rounds to help stabilize the organization, which went through several rounds of layoffs. Through these financings BCP obtained control of Red Herring and in 2002 put the company through an assignment for the benefit of creditors (ABC), which is a California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
state process similar to a federal bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
. RHC Media, owned by BCP, bought the Red Herring assets out of ABC and kept the business operating.
After trying unsuccessfully to sell the company, RHC Media decided in early 2003 to cease operations and sell the company's assets. The subscription obligation was sold to Time Inc.
Time Inc.
Time Inc. is a subsidiary of the media conglomerate Time Warner, the company formed by the 1990 merger of the original Time Inc. and Warner Communications. It publishes 130 magazines, most notably its namesake, Time...
and the Red Herring brand, URL, and Intellectual Property (such as back issues and online content) were sold to Alex Vieux
Alex Vieux
Alex Serge Vieux is chairman, CEO and founder of technology conference sponsor, DASAR. He's also publisher of Red Herring magazine.Currently, Vieux serves on the boards of several international public and private companies, including BVRP, CommerceOne, and Qualys.In 1997, Vieux was named president...
of DASAR
Dasar
Dasar is an acronym for Darkness Amplification by Stimulated Absorption of Radiation.It is a little-used expression describing the anomalous interstellar formaldehyde absorption discovered by Palmer et al. in 1969....
.
Post dot-com relaunch
Shortly after the purchase by DASAR, the new owners brought in a team new editors with experience at competitors of the former print magazine.Red Herring re-launched as a web site in the fall of 2003. Red Herring produced several test issues of the print magazine in the fall of 2004 and launched as a full-fledged weekly magazine in January 2005.
The print edition came to an end in 2007, but a digital edition continued, available via the company's web site.
According to Valleywag
Valleywag
Valleywag was a Gawker Media blog with gossip and news about Silicon Valley personalities. It was initially launched under the direction of editor Nick Douglas in February 2006. After Douglas was fired, the blog was taken over by Owen Thomas. Thomas himself left in May 2009, to be replaced by Ryan...
, Red Herring had trouble paying its bills. The company was evicted from its Belmont
Belmont, California
Belmont is a city in San Mateo County, California, United States. It is in the San Francisco Bay Area, located half-way down the San Francisco Peninsula between San Mateo and San Carlos. It was originally part of the Rancho de las Pulgas, for which one of its main roads, the Alameda de las Pulgas,...
office in May 2008 and canceled an event in China.
In recent years, Red Herring has been focused in actively promoting the events and awards for new innovative startups, venture capital scene and these events are branded as Red Herring Global 100, Red Herring Europe 100, Red Herring Asia 100.