'The Industry Standard' relaunches, but online only
Dot-com darling Industry Standard is resurrected after seven years as Web news site.
, The Industry Standard is back, but without the trendy rooftop parties of the dot-com boom and the hype.
International Data Group is launching a Web-only version of The Industry Standard on Monday that will feature news and analysis items about the tech industry. The items in a quick glance on Friday appeared to be predominantly from IDG News Service, IDG's internal wire service (where I used to work). There is also a prediction market section where readers can make forecasts about events in the industry and bet on whether they will happen.
The Industry Standard originally launched in 1998, in time to chronicle the rise of what was then dubbed the "dot-com economy." The magazine was soon a hit, becoming the fastest growing magazine in U.S. history. Ad inventory was selling like hotcakes and writers were being hired so fast they ran out of places to put them (I was one of them from 1999 until 2001). A big splashy billboard greeted the city-bound commuters on the Bay Bridge, elite conferences were organized and lavish parties were thrown in San Francisco City Hall and Europe.
The company eventually blew through at least $30 million raised in a private-equity round and when the Internet start-ups started going under, the ad dollars dried up. Following several rounds of layoffs, the company closed in August 2001.
For the gory details on what went wrong, check out Starving to Death on $200 Million: The short, absurd life of The Industry Standard by former Industry Standard Editor James Ledbetter.