DENVER -- The future of a Denver online news venture is uncertain after it fell well short of its subscriber goal and its backers and staff parted ways.

Kevin Preblud, one of the original investors behind InDenverTimes.com, said Thursday the site attracted just 3,000 paying subscribers, well short of the 50,000-subscriber goal. That's only 6 percent of its stated goal.

Preblud said the investors haven't decided on their next step but the original concept, using about 30 staffers from the defunct Rocky Mountain News, isn't viable with that number of subscribers.

"In this economic climate, and certainly in this advertising climate, it's more prudent to start with a leaner operation that has a much shorter if not immediate road to viability from a cash-flow standpoint," Preblud said.

He declined to say how many staffers the backers considered viable for a startup.

David Milstead, one of the former News staffers who was contributing work to InDenverTimes.com, said some of the staffers believe they can make the original concept work and are looking for new backers.

Milstead said it would take at least 10 people and probably more than 20 to provide a comprehensive online news site with news and sports coverage.

"The head count increases with the concept of trying to replicate, to some degree, the newspaper experience online," Milstead said.

However, any new site run by the staffers and any new backers will not be called InDenverTimes.com, he said.

"The takeaway is that (managing editor) Steve Foster, myself and others who are committed to this venture will continue to pursue the concept, and we are now looking for new backers," Milstead said.

The original financiers -- entrepreneurs Preblud, Brad Gray and Ben Ray -- were uncomfortable with several aspects of the business, including the size of the staff. They believed 30 employees was too many and were "unable to put together an investor group that wants to move forward with a newsroom of that size," he said.

"The revenue picture is very unclear, and the potential for losses is sizable," Milstead said.

Preblud, Gray and Ray announced the launch of the site March 17 at a news conference with former News employees who were volunteering their time until the site officially launched May 4.

The group has not disclosed the amount of the initial investment or the amount needed to support the newsgathering operation, which would get most of its income from subscribers.

"Obviously, the economic climate is very difficult for the media and all types of investments right now," Milstead said. "That being said, the ex-Rocky Mountain News staffers who founded InDenverTimes really believe there's good business in journalism by journalists and the opportunities for it here in Denver because of the closing of the Rocky Mountain News."

InDenverTimes was organized by former News staffers who were behind IWantMyRocky.com, a Web site to rally support for the News after the E.W. Scripps Co. said it was putting the newspaper up for sale Dec. 4.

Scripps closed the paper when no viable buyer was found, and the News printed its last edition Feb. 27. Thursday would have been the 150th anniversary of the Rocky Mountain News.