Blog Post

Forbes Looking For Investor?

So says an AdAge story, citing sources, but Forbes denies it. It says that the family-run magazine company is quietly seeking investors to buy a piece of the company. It was not clear why Forbes is looking for an equity partner, but the search echoes a reported effort in 2002 to find an investor to buy up to 25% of the company, says the story. Apparently the money may be used to fund international print growth.
I find these contention interesting, in light of couple of reasons related to Forbes.com:
— Last year, Forbes.com CEO Jim Spanfeller caused some stir by saying that the website will cross the print revenues by the end of this year, something denied by Steve Forbes after the stir.
— I know from my sources that a certain venture investor owns 5 percent of Forbes.com, for a long time, and has been itching for a while to figure a way out. A Forbes.com IPO idea-bubble has been floated many times over the years, but it doesn’t seem like it will happen.
Anyway, just questions and thoughts from my side…no answers.