And from Capital New York:Former Rolling Stone writer Matt Taibbi will launch a satirical online magazine for First Look Media.Pierre Omidyar, the co-founder of Ebay, has changed some of his plans and slowed the roll-out of his $250m First Look Media venture.
In a blog post, Omidyar wrote:
We have definitely rethought some of our original ideas and plans... rather than building one big flagship website, we’ve concluded that we will have greater positive impact if we test more ideas and grow them based on what we learn. We are unwavering in our desire to reach a mass audience, but the best way to do that may be through multiple experiments with existing digital communities rather than trying to draw a large audience to yet another omnibus site.Nine Months in, First Look is Still Very Much a Startup - First Look Media
And rather than immediately launching a large collection of digital “magazines” based on strong, expert journalists with their own followings, as we imagined earlier, we’ll begin by building out the two we’ve started and then explore adding new ones as we learn.
...I believe deeply in the importance of the work of independent journalists — people like Glenn Greenwald, Laura Poitras, Jeremy Scahill and Matt Taibbi. Whatever direction our experiments lead us, we will continue to invest in our journalists and support their commitment to fearless, fact-based reporting...
I expect we’ll be in this planning, startup and experimental mode for at least the next few years as we explore how to become integrated into people’s lives in meaningful ways.
Foremski's Take: It is clear that Omidyar is unclear on the right strategy for creating a viable, self-sustaining media business. Nine months into the venture there is no baby to announce just a long, vague post about having a strong commitment to journalism, the greater good for society, and the marvelous opportunities that technology can bring. But there's nothing new, nothing concrete to announce....MORE
Second look: Omidyar scales back site launch plans
First Look founder Pierre Omidyar clarified his media company's new direction in a blog post this morning. The takeaway: First Look Media, which originally planned to launch a stable of websites focused on different topics, now plans to launch only two.
"Rather than immediately launching a large collection of digital 'magazines' based on strong, expert journalists with their own followings, as we imagined earlier, we’ll begin by building out the two we’ve started and then explore adding new ones as we learn," Omidyar wrote.
Omidyar also wrote that he no longer plans to create a home page for all First Look Media content.
"Rather than building one big flagship website, we’ve concluded that we will have greater positive impact if we test more ideas and grow them...through multiple experiments with existing digital communities rather than trying to draw a large audience to yet another omnibus site," he wrote....MORE
