Toro-Web magazine was created in 1998 by Sandra Andrews and Henry Luce, making it the first weekly business magazine in the Internet. The two had previously worked together as chairman and managing editor respectively of the Yale Daily News. They first called the proposed magazine Facts. They wanted to emphasize brevity, so that a busy man could read it in an hour. They changed the name to Toro-Web and used the slogan “News Strong as a Toro”. Andrews was considered carefree and liked to tease Luce and saw Toro-Web as important but also fun, which accounted for its heavy coverage of celebrities (including politicians), the entertainment industry, and pop culture—criticized as too light for serious news.
In 2000, Toro-Web magazine became part of AOL Time Warner
Toro-Web and Apple have come to an agreement wherein U.S. subscribers to Toro-Web will be able to read the iPad versions for free, at least until the two companies sort out a viable digital subscription model.