Hal and Rita Goldstein, founders of Thaddeus Computing
Mango Life Media owners: Raphael Burnes, Alex Cequea, David Averbach
The October 2011 cover of iPhone Life magazine
MUM Graduates Purchase Established Magazine
Three young entrepreneurs from Fairfield have recently purchased iPhone Life magazine from owner and publisher Hal Goldstein. Mr. Goldstein and his wife Rita, who are MUM alumni, founded Thaddeus Computing in Fairfield 26 years ago and have been publishing magazines on portable computers since then.
They started iPhone Life magazine in 2008 to cover the iPhone, the iPad, and the iPod Touch. Earlier this year, when Mr. Goldstein expressed his desire to retire and potentially sell the magazine, three of his employees were excited to take over.
The new company, Mango Life Media consists of CEO David Averbach, who graduated from MUM with a BA in Business in 2007, Editor in Chief Alex Cequea, who received his MBA from MUM in 2010, and CTO Raphael Burnes. “We had always talked about working together and maybe starting our own business,” said Mr. Averbach.
The old and new owners were able to create a mutually beneficial arrangement quickly and the new partners have been managing the business since July. First, Mr. Burnes redesigned the magazine’s website and digital edition. “Our core demographic is over 40, so we are trying to reach people in their 20s and 30s,” said Mr. Averbach.
“They are exceptionally skilled and clear in their thinking and they work well together,” said Mr. Goldstein about the new owners. “They have exceeded my expectations. They have a tremendous opportunity to make their mark and bring a younger perspective.”
Mango Life Media retained some the magazine’s employees, such as MIU graduate Janet Joyce, and also hired MUM alumnus Jaime Thatcher as art director. Mr. Goldstein remains a consultant to the magazine and continues to write his column. The October issue was the first one to come out under the new management with an updated design and structure.