Career
After publishing his first book, Wolff received an advance to write a novel, which he never finished. A college friend, Steven J. Hueglin, who had become a successful Wall Street banker, asked for Wolff's help in evaluating investments in media companies. He pulled him into a career as a media business entrepreneur.
In 1988, Wolff took over the management of the magazine Campaigns & Elections. He became involved in advising start-up magazines, including Wired. He also raised financing for media companies and new businesses.
In 1991, he launched Michael Wolff & Company, Inc., specializing in book-packaging. Its first project, Where We Stand, was a book with a companion PBS series. The company's next major project was creating one of the first guides to the Internet, albeit in book form. Net Guide was published by Random House. On the eve of launching the title as a monthly magazine, the incipient magazine was bought by CMP Media, the publisher of computer magazines.
Wolff's company continued to publish a succession of book-form Internet guides. In 1995, the company took a round of venture capital investment, with shareholders including Patricof & Co., the New York venture capital firm. It began to convert its print directories into a website and digital directory called Your Personal Network. At one point, the company was valued by bankers seeking to take the company public at more than $100 million. The venture collapsed in 1997, and Wolff was expelled from the company.
Read more about this topic: Michael Wolff (journalist)
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