Business Insider which was established by Henry Blodget recently acquired another $ 5 million venture investment from Jeff Bezos, the CEO of Amazon. RRE Ventures and Institutional Venture Partners also invested on Business Insiders.
Jeff Bezos has been a loyal investor of Business Insider. It is reported that this investment was made through Bezos Expeditions. Business Insider’s total venture capital reached $16.3 million. Marc Andreessen, co-founder of Andreessen Horowitz and Ken Lerer, the co-founder of Huffington Post are BI’s investors at its early stage.
Blodget said:” the leadership, foresight and management wisdom that Bezos made for Amazon inspired the startups and new enterpreneurs, including me. It is a great honor that he invested our company.”
Business Insider sets its headquarter in New York city and has 100 employees. Its revenue in 2015 was about $10 million, but the net deficiency reached $3 million. The expectation of BI revenue in 2016 will be $ 15 million. It still takes for a while for Business Insider to make profit.
Blodget suffered a tough time as he was accused of security fraud and was verdicted by the Securities and Exchange Commission that he should not engage in securities industry for the whole life.
Blodget turned himself into a new industry. He established Business Insider in 2007. The company develops rapidly and has 24 million monthly subscribers now. The reported contents involves in entertainment, techonology and finance. Its employees will upgrade the reports based on the subscribers’ need.
Bezos had invested $ 5 million on Business Insider in 2013. He even acquired the Washington Post at $250 million. He shows great interests in media industry.
