Inc. Magazine: A History of Entrepreneurship and Business Growth
Since its inception, Inc. has served as a cornerstone of business journalism, specifically targeting the world of startups, growing companies, and the spirit of entrepreneurship. Launched as a platform to highlight the drivers of economic growth, the publication has evolved from a Boston-based magazine into a globally recognized brand known for identifying the next generation of industry leaders.
Founding and Early Years
Inc. was launched in April 1979 in Boston by Bernie Goldhirsh, an MIT-trained mechanical engineer. Goldhirsh, who had previously founded and sold Sail magazine for $10 million in 1980, envisioned a publication that focused on the mechanics of building a business. The magazine was originally headquartered at the India Wharf on Boston's waterfront before relocating to New York City in the early 2000s.
While Goldhirsh maintained a low profile, the magazine's public identity was largely shaped by George Gendron, who served as editor-in-chief from 1980 to 2002. He was later succeeded by Jane Berentson and John Koten. Early editorial contributions also included Paul W. Kellam, a former editor of Marine Business, and MIT director David Birch. Birch, serving as a columnist, was among the first to identify that small and new businesses were responsible for creating the majority of jobs in the United States.
[ไม่มีภาพประกอบ]A Historic First with Steve Jobs
In October 1981, Inc. made a landmark editorial decision by featuring Steve Jobs on its cover—the first magazine to do so. The cover proclaimed, "This man has changed business forever," focusing on Jobs' influence on the personal computer industry and the rapid ascent of Apple. This profile played a significant role in establishing Jobs as a pivotal figure in the global business landscape.
The Evolution of the Inc. Rankings
To provide a data-driven look at business success, the magazine introduced the Inc. 100 ranking in 1982. This list was designed to showcase the fastest-growing privately held companies in the U.S. Over time, the list expanded in scope and scale, evolving into the Inc. 500 and eventually the comprehensive Inc. 5000.
Ownership Transitions and Modern Era
The turn of the millennium brought significant changes in ownership. In 2000, Bernie Goldhirsh sold the magazine to the German publishing house Gruner + Jahr for a reported price exceeding $200 million. By 2005, the publication was acquired by Joe Mansueto, the founder of the investment research firm Morningstar Ventures. Mansueto purchased both Inc. and Fast Company for approximately $35 million, consolidating them under his company, Mansueto Ventures.
Leadership continued to evolve in the 2010s. Eric Schurenberg was appointed president and editor-in-chief in December 2013, succeeding Jane Berentson. In March 2018, Schurenberg transitioned to the role of CEO of Mansueto Ventures. The editorial leadership then passed to Jim Ledbetter, followed by Scott Omelianuk, and currently Mike Hofman.
[ไม่มีภาพประกอบ]Key Facts
- Founded: April 1979 in Boston by Bernie Goldhirsh.
- First Steve Jobs Cover: October 1981.
- Signature Ranking: Started as the Inc. 100 (1982), later becoming the Inc. 500 and Inc. 5000.
- Major Acquisitions: Sold to Gruner + Jahr in 2000 (>$200M) and later to Joe Mansueto in 2005 (~$35M).
- Current Parent Company: Mansueto Ventures.
Awards and Recognition
Inc. has received numerous accolades for its multimedia content and journalistic excellence. The Inc. Uncensored podcast was named Best Podcast at the Best of the Web Awards in 2016 and 2017, and received an honorable mention at the 2018 Folio: Eddie & Ozzie Awards.
In 2017 and 2018, the publication earned multiple Folio awards for its redesign, use of social media, video integration, and full-print issues. Additionally, the 2016 feature "The Stealthy Sales Kings of Amazon" won a Best in Business award from the Society for Advancing Business Writing and Editing. Most recently, in 2023, the Society of Publication Designer awarded Inc. a silver medal for the non-celebrity feature profile "Computer Freaks."
| Period/Year | Key Event/Leader | Details |
|---|---|---|
| 1979 | Bernie Goldhirsh | Founded Inc. in Boston |
| 1980–2002 | George Gendron | Editor-in-Chief and public face |
| 1982 | Inc. 100 | Launch of fastest-growing companies list |
| 2000 | Gruner + Jahr | Acquired magazine for over $200 million |
| 2005 | Joe Mansueto | Founded Mansueto Ventures; acquired Inc. and Fast Company |
| Present | Mike Hofman | Current Editor-in-Chief |
Frequently Asked Questions
Who founded Inc. magazine?
Inc. was founded in April 1979 by Bernie Goldhirsh, an MIT-trained mechanical engineer who previously founded Sail magazine.
What is the Inc. 5000?
The Inc. 5000 is a ranking of the fastest-growing privately held companies in the United States. It began in 1982 as the Inc. 100 before expanding to the Inc. 500 and eventually the Inc. 5000.
Which famous tech leader first appeared on the cover of Inc.?
Steve Jobs was the first tech leader featured on the cover of Inc. in October 1981, where the magazine highlighted his impact on the personal computer industry.
Who currently owns Inc. magazine?
Inc. is owned by Mansueto Ventures, founded by Joe Mansueto, who acquired the publication in 2005.
What awards has Inc. won recently?
In 2023, Inc. won a silver medal from The Society of Publication Designer for the feature profile "Computer Freaks." It has also won multiple Folio awards and Best of the Web Awards for its podcast.