Mansueto Ventures Forms Digital Division; To Invest $10 Million For Launches

Mansueto Ventures (MV), the media vehicle owned by Joe Mansueto, founder of Morningstar, has formed a digital division called Mansueto Digital and is investing $10 million investment in the new division. MV already owns Inc. and Fast Company magazines, and intends to use the money to start new allied business sites and services. This money is in addition to the online investments in the websites of FastCompany and Inc.
Some of the ventures planned: a new business networking service; a social/business networking platform for business people “intensely interested in issues of innovation, technology and digital media” expanding on FC’s existing Company of Friends; a partnership with a Chinese small business website; and others.
As part of this, MV has promoted Edward Sussman, currently SVP for the online and business development groups at Mansueto Ventures, to EVP of Mansueto Ventures and president of Mansueto Digital.

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