Andrew Rice’s recent New York Times Magazine piece about online journalism entrepreneurs and new media business models focused on two recent startups: Lewis Dvorkin’s True/Slant, which pays its writers a monthly retainer and web traffic bonuses, and Sam Apple’s The Faster Times, which guarantees contributors a 75% chunk of the revenues made from their articles’ ad adjancencies.
Today there are updates on both.
True/Slant, which had been going after a second investment round, may have found a buyer, reports paidContent’s Staci Kramer.
We initially heard a deal was already done, but a source familiar with the situation tells paidContent that is not the case and that talks are ongoing. Asked about a possible sale, founder/CEO Lewis DVorkin said by e-mail that the New York-based company is merely looking to raise a second round. We’ve confirmed though that both possibilities are still in play.
Meanwhile, last we heard about The Faster Times crew, in Rice’s NYT piece, they had come up with a new funding plan in April—membership fees:
Readers could sign up to sponsor a favourite writer, at rates ranging from $12 to $120 a year. The writers would get 70 per cent of the proceeds and in return would come up with customised benefits for their sponsors.
According to an email forwarded to us the other day, they’re also throwing a party in New York next week to raise cash.
It’s on May 27 at the Libertine Library and there are a few big-name attendees confirmed, including Amy Sohn, Esquire’s A.J. Jacobs and former Radar executive editor Aaron Gell.
Read the full email below:
Date: Tue, May 18, 2010 at 3:03 PM
Subject: [international_alumni] Special Event for New York Journalists, Writers, Editors, and Agents
To: International Alumni <[email protected]>
Just wanted to let you know about a great event coming up on May 27th. The FasterTimes, the online newspaper I write and edit for, is having a networking night for writers, journalists, editors, and agents to help raise money for the site.
The Faster Times is a completely independent group of journalists who have come together in the face of the financial crisis facing American journalism to look for a new model. Almost all the money raised form the event (as well as from ads on the site) goes right back to the writers and editors. We were just featured in a New York Times Magazine article on Sunday.
Whether you’re an old pro or an emerging writer interested in making connections, it should be a great night.
Among the attendees will be…
Gary Belsky, the editor of ESPN the Magazine
AJ Jacobs, Author of The Know it All, Esquire, Editor-at-Large
Joshua Henkin, Author of Matrimony, Director of the MFA program in Fiction Writing at Brooklyn College.
Amy Sohn, Author of Prospect Park West, Magazine Columnist
Emily Bobrow, Editor, More Intelligent Life (The Arts Magazine of the Economist)
Samantha Shapiro, New York Times Magazine Contributing Writer
Aaron Gell, Editor and Publisher, MediaElites.com, Former Executive Editor of Radar Magazine
The event takes place on Thursday, May 27th, 8-10 PM at the Libertine Library — an incredible space (see attached photo)
15 Gold Street (at Platt) Map
To get on the list for the event, you just have to
You can become a member for as little as $12 and that will also get you a DigiDide tripod-keychain from Quirky.com — a $25 value (see attached image). You’ll also be able to choose from a wide array of other gifts, from New Yorker subscriptions, to critiques of your writing from experienced journalists, to personalised erotic fiction. (Not a joke).
I hope you can make the event, but, either way, it would be a big lift to The Faster Times if you would become a member.
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