At a $630M valuation, Forbes too small to succeed as a public company

For decades the editor of Forbes magazine was James Michaels, a contrarian and acerbic fellow known for attacking the copy and egos of his journalists. If a reporter turned in a wishy-washy article, he’d send it back, growling, “Just tell me if it’s a good business or bad one.”

I’ll do my best to honor Michaels’ credo in examining Forbes’ publisher’s plan to take itself public at a $630 million valuation.

The publisher, founded in 1917, was sold to Integrated Whale Media in 2014. Today Forbes Global Media has an audience of 150 million for its news, conferences and marketing programs. The long-term goal is to turn 1

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