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Red Herring magazine closes doors
By siliconindia
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Monday, 03 March 2003, 20:30 IST
SAN FRANCISCO: Red Herring has announced that it has closed down.
According to reports from news agencies, RHC Media Inc. reached the decision after unsuccessfully trying to sell Red Herring.
It's learnt that Red Herring's March issue will be the magazine's final issue. It had a circulation of about 275,000.
Formed last year after the venture capital firm Broadview Capital bought the magazine, RHC plans to liquidate its assets, including the Red Herring Web site, during the next few weeks.
The closure means Red Herring's remaining staff of 31 workers lost their jobs.
Founded in 1993, Red Herring focused on the venture capital community, an emphasis that helped it emerge as an influential magazine during the dot-com boom of the late 1990s.
Like several other magazines, Red Herring cashed in on the tech boom by selling huge blocks of advertising space to businesses eager to reach its upscale audience.
Red Herring joins two other former rivals, Upside and the Industry Standard.
