ChasNote

The crack team at ChasNote had its doubts when Conde Nast launched its expensive, high-gloss business mag Portfolio two years ago. I’ve encouraged them not to gloat, though; they were not alone in expressing disbelief that a media company would launch a $100-million-plus investment in a monthly print magazine in the Internet-enabled year of 2007.

Alas, it’s now over for Portfolio. From TechCrunch

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“Portfolio saw itself in the same vein as the Fortune magazine of the 1930s, filled with lush photographs and long narratives. But that formula doesn’t work in an age where business is about speed, not leisure or luxury. It also doesn’t work in an age where monthly magazines in general are increasingly challenged by the wealth of instantaneous business news available on the Web. (And you thought the daily newspapers had it tough). Portfolio’s insistence on favoring its print over its Website content also helped to hasten its demise. If you are going to start a magazine these days, the Website has to come first. The magazine companies still don’t realize this simple fact.”