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Fast Company

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For other uses, see Fast Company (disambiguation).

Fast Company
File:Fast Company October 2009 cover.jpg
October 2009 cover of Fast Company
EditorStephanie Mehta
CategoriesBusiness magazine
Frequency8 times per year
PublisherFast Company, Inc
Total circulation
(June 2012)		757,858[1]
First issueNovember 1995
CompanyMansueto Ventures
CountryUSA
LanguageEnglish
WebsiteFast Company.com
ISSN1085-9241

Fast Company is a monthly American business magazine published in print and online that focuses on technology, business, and design. It publishes eight print issues per year.

History

Fast Company was launched in November 1995[2][3] by Alan Webber and Bill Taylor, two former Harvard Business Review editors, and publisher Mortimer Zuckerman.[4][5]

The publication's early competitors included Red Herring, Business 2.0 and The Industry Standard.[6]

In 1997, Fast Company created an online social network, the "Company of Friends" which spawned a number of groups that began meeting.[7] At one point the Company of Friends had over 40,000 members in 120 cities, although by 2003 that number had declined to 8,000.[8]

In 2000, Zuckerman sold Fast Company to Gruner + Jahr, majority owned by media giant Bertelsmann, for $550 million.[9] Just as the sale was completed, the collapse of the dot-com bubble burst, leading to significant losses and a decline in circulation. Webber and Taylor left the magazine two years later in 2002, and John A. Byrne, previously a senior writer and former management editor with BusinessWeek, was brought in as the new editor. Under Byrne, the magazine won its first Gerald Loeb Award, the most prestigious honor in business journalism.[10] But the magazine could not reverse its financial decline in the wake of the dot-com bust. Although the magazine was not specifically about Internet commerce, advertising pages continued to drop until they were one-third the 2000 numbers.[8]

In 2005, Gruner + Jahr put the magazine, as well as Inc. magazine, up for sale. Through a contact, Byrne contacted entrepreneur Joe Mansueto and helped guide him through the sale. A bidding war ultimately ensued, pitting The Economist against Mansueto's company Mansueto Ventures. Mansueto, the only bidder who promised to keep Fast Company alive, ultimately won the contest, buying both magazine titles for $35 million.[11]

Under former editor-in-chief Robert Safian,[12] Fast Company was named by the American Society of Magazine Editors as the magazine of the year in 2014.[13]

Stephanie Mehta was named editor-in-chief in February 2018,[14] having previously worked at Vanity Fair, Bloomberg, Fortune, and The Wall Street Journal. Fast Company is owned by Mansueto Ventures and is headquartered in New York, New York.

Website

Launched in 1995,[15] FastCompany.com covers leadership and innovation in business, environmental and social issues, entertainment and marketing, and, through its Co.Design site, the intersection of business and design, from architecture to electronics, consumer products to fashion. Fast Company also previously operated sites called Co.Labs, Co.Exist, and Co.Create. Co.Exist and Co.Create were rebranded as Ideas and Entertainment sections in 2017.[16][17] Co.Labs was shut down in early 2015.[18]

Current activity

Franchises

Fast Company currently operates a number of franchises such as "Most Innovative Companies", "World Changing Ideas", "Innovation By Design", and "Most Creative People". For their Most Innovative Companies feature, Fast Company assesses thousands of businesses to create a list of 50 companies it considers the most innovative.[19] The Most Creative People in Business is a list of 100 people from different industries.[20]

Events

The Fast Company Innovation Festival is an event hosted in New York City each year since 2015. In 2017, 10,000 attendees attended keynotes, workshops, and Fast Tracks hosted in corporate offices centered on design, technology, social good, leadership, entrepreneurship, and creativity.[21]

References

  1. ^ "eCirc for Consumer Magazines". Alliance for Audited Media. June 30, 2012. Archived from the original on January 23, 2017. Retrieved December 2, 2012.
  2. ^ Vanderbilt, Tom (March 5, 2000). "The capitalist cell". The New York Times.
  3. ^ Alex French. "The Very First Issues of 19 Famous Magazines". Mental Floss. Retrieved August 10, 2015.
  4. ^ "A Brief History of Our Time". Fast Company. March 1, 2006. Archived from the original on April 4, 2012. Retrieved October 27, 2012.
  5. ^ "About Us". Fast Company. Retrieved February 27, 2012.
  6. ^ Bercovici, Jeff (February 2001). "Business 2.0 is put up for sale". Media Life Magazine. Archived from the original on December 8, 2015. Retrieved November 25, 2014.
  7. ^ Alex Kuczynski (December 14, 1998). "Cultivating A Cult Audience; Fast Company Magazine Takes 'Community of Readers' Idea To New Extremes". The New York Times. Retrieved June 5, 2009.
  8. ^ a b Carr, David (August 11, 2003). "Fast Company's New Life in the Slow Lane". The New York Times. Retrieved November 25, 2014.
  9. ^ Johnston, David Cay (May 2005). "Bertelsmann to Exit U.S. Magazine Market". The New York Times. Retrieved July 7, 2017.
  10. ^ Friedman, Jon. "Fast Company finally gets some 'help'". MarketWatch.
  11. ^ Seelye, Katherine Q. (June 21, 2005). "Gruner + Jahr sells 2 U.S. magazines". The New York Times.
  12. ^ Fox, Rebecca (January 2007). "Breaking: Bob Safian Named Editor/Managing Director of Fast Company". Adweek. Retrieved July 7, 2017.
  13. ^ "National Magazine Awards 2014 Winners Announced". American Society of Magazine Editors. New York. May 1, 2014. Retrieved August 4, 2015.
  14. ^ Dool, Greg (February 2018). "Breaking: Fast Company Names Stephanie Mehta Editor-in-Chief". Folio. Retrieved April 11, 2018.
  15. ^ "ICANN WhoIs fastcompany.com". Retrieved July 7, 2017.
  16. ^ Clendaniel, Morgan (June 2, 1995). "Some News From Your Friends At Co.Exist". ICANN WhoIs. Retrieved July 7, 2017.
  17. ^ Alt, Eric (March 22, 2017). "A Message To Our Readers". fastcompany.com. New York. Retrieved July 7, 2017.
  18. ^ Robischon, Noah. "What's Next For Co.Labs?". Fast Company. Retrieved January 11, 2016.
  19. ^ "Most Innovative Companies: Top 10 by Industry". Fast Company website. February 18, 2010. Archived from the original on June 4, 2012. Retrieved April 10, 2012.
  20. ^ "The Most Creative People in Business 2012". Fast Company. 2012.
  21. ^ "Fast Company Announces The Third Annual Fast Company Innovation Festival". Businesswire. New York. October 23, 2017. Retrieved April 11, 2018.
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