Iconocast To Be Spun Off by Imagine Media
Posted on January 27, 1999Imagine Media has announced that it is spinning off Iconocast, an Internet marketing e-mail list and site into an autonomous entity called Iconocast Inc., to be headquartered in San Francisco. With more than 33,000 subscribers, Imagine Media will retain a minority interest in the new company with the majority held by Iconocast's editor and publisher, Michael Tchong. Imagine will also continue its Business 2.0 sponsorship of Iconocast.
The spin-off will allow Iconocast to more aggressively pursue its new media strategy, which calls for a significant brand franchise expansion in 1999. Imagine CEO Chris Anderson explained that with the interest being lavished on Net companies these days, he and Michael both agreed Iconocast would be better served as a stand-alone, Internet pure play. Launched in February 1997, Iconocast provides marketers with analysis of the rapidly developing science of interactive marketing, a market that is set to grow to $14 billion by 2003, estimates Tchong.