Conventional wisdom says that entrepreneurs who start a Web-based business will do so with VC money. Read enough stories of Internet ventures that enjoy lucrative exits in the millions (in some cases billions) of dollars, and it's easy to assume that the only path to success is to begin by securing deals with investors who are far less interested in helping a start-up build a substantial brand as they are in realizing a return as quickly as possible.
Bootstrapping simply isn't sexy anymore.
But for many start-up publishers, bootstrapping is a way of life, and VC money isn't an option.
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Barnes & Noble said it would drop the price of the Nook to $199. Responding rapidly, Amazon.com cut the price of its popular Kindle e-reader below the Nook, to $189.
“I think we’ll see what works and doesn’t work,” Mr. Stengel said in an interview by phone. “We’ll adapt and change. We’re in the hunt like everyone else to figure this out.”
“I think we’ll see what works and doesn’t work,” Mr. Stengel said in an interview by phone. “We’ll adapt and change. We’re in the hunt like everyone else to figure this out.”
“We kind of wanted to draw a line in the sand,” he said. “We want to remain a vigorous and important part of the conversation. There are some things that are necessary to be part of that. But we will experiment.”
Time has decided to dive headfirst into an issue that has bedeviled many a news organization before it: how to cure online readers of their addiction to free content.