Mike Gunderloy founded Factsheet 5 in 1982. Today on his personal website, he calls it "the stupidest time-saving idea I ever had," somewhat in jest. Many consider F5's glory years when it was under Gunderloy's control, where it grew from a two-page photocopied sheet to a good-sized zine packed full of reviews each issue. The reviews started out of everything under the sun, but soon became focused on zines and the small press. With this transformation and developement, Facsheet 5 became the first major zine review zine.
Cari Goldberg Janice joined F5 in the late '80s and became co-editor, Gunderloy and Goldberg Janice co-authored "The World of Zine" for Penguin Books in 1991. The books compiled some of their favorite zines from the pages of F5. Soon after the book was published and the zine scene was exploding, Gunderloy had a nervous breakdown just as the spotlight was on him. He quit Factsheet 5, stopped talking about the small press, and became a computer programmer. A number of editors continued the magazine until it ceased publication in the late 1990s.
"Why Publish?" - a 54 page zine about self-publishing, published in 1989