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FortuneCity founder chases silver surfers

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FortuneCity co-founder Richard Jones has recruited his former boss, VNU publisher Ben Tisdall to run his latest venture, a community site for the over-50s. We’ll give you more details of the silver servers...as soon as we get them. Word from former colleagues is that Jones no longer plays an active role at FortuneCity, where he used to be managing director. Once upon a time, Thirty-something Jones was a computer journalist -- in the early 90s he was Tisdall’s deputy on Personal Computer Magazine, a long defunct VNU title. This is where I'm supposed to declare my interest (I've read those Maoist self-criticism ethics torture sessions conducted by American hacks): Tisdall was my boss too, for three months or so, on the same rag, and Jones was my replacement. Jones moved much further up the publishing ladder, on joining EMAP. Here, he launched Network Week in the UK, now a CMP title that looks destined for the chop, when it gets taken over by VNU on August 9. Jones is an example to hacks everywhere – he made a killing from FortuneCity’s Neuer Markt IPO earlier this year. His 6.7 per cent stake was worth $23 million on IPO day but, last time we checked, has since fallen to a measly $17 million. Presumably, he’s salted some more away by releasing shares at second stage finance and IPO times. Some of which will find its way into the new business. And if I've got any of this wrong, Richard, you'll know where you can find me. ® See also: Daily Net finance news from The Register

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