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Media - Tuesday, September 13, 2005

5 Blog Networks in 5 Days - FM Publishing Profile

FM Publishing (Pre-logo)

HQ: Ross, CA

Founded: 2005, pre-launch at post

Management: John Battelle is founder & CEO. He is the well-known former Managing Editor at Wired Magazine who founded the Industry Standard, saw it slip into the drink, relaunched himself as a journalism professor at UC Berkeley, published a book about Google and company called The Search, became manager of the popular group-blog BoingBoing, as well as the organizer of the O'Reilly event Web 2.0, all while blogging at his own site SearchBlog. Battelle recently blogged that he is trying to maintain a healthy personal life but with all that is on his plate it is hard to imagine. His VP of Sales is Chas Edwards who quite his job as VP of B2B Sales at CNET to join FM.

Investors: Omidyar Network led an undisclosed amount of seed funding, with The New York Times Company, Mitch Kapor, Andrew Anker, Mike Homer & Time O'Reilly.

Sites: To be announced. However, Battelle has made it clear that he intends to focus on known, high quality bloggers who can benefit from an ad sales team, and pooled design/tech help. Battelle says he is signing non-exclusive agreements so that he is motivated to work hard to keep his bloggers loyal. In other words, he wants to work with prima donnas because they will bring traffic and he will stoke their egos. We know that SearchBlog and BoingBoing will be good anchor sites, We have hear that other publishers in the network will include: Gigaom, Waxy.org, Metafilter, SearchEngineWatch, WiFiNetNews and PVR Blog.

Advertising: We understand that BoingBoing makes $40K per month in ad sales. The quality of its ads have never been on par with the ads on Gawker Media or even Weblogsinc. But we can see that despite its great traffic volume, BoingBoing is not an easy site for ad sales. Also, to be fair, given his schedule, Battelle can certainly not be giving BoingBoing nor his own Searchblog significant time to close ad sponsorships.

Dirt: The smart money is that FM Publishing, while late to the blog network party, will make the incumbents squirm with some degree of envy. From the get-go, FM will have better editorial product than Weblogsinc and it will enjoy B2B payouts that Gawker Media cannot land. Some have questioned FM's goals of developing a content management platform - why try to compete with Moveable Type? But it’s too soon to say what is in the works. It would certainly make sense to develop technology that would allow FM Publishing to manage ad placements across its disparate network.

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