The Business Insider, the blog network that includes Silicon Alley Insider and a pair of other business-focused news sites, has closed its third funding round. The company hasn’t disclosed the amount of the round, but reports peg it at around $5 million.
In a blog post annoucing the news, co-founder Henry Blodget details the new investors in the round, who include Marc Andreessen, Allen & Company LLC, Zelnick Media’s Jim Friedlich, and Matt Luckett of Balestra Capital. Other investors include Kohlberg & Company and the blog’s founders.
Blodget also notes that the Business Insider is seeing a healthy 2 million monthly unique visitors. Along with SAI, Business Insider’s other blog verticals include the Wall Street-centric Clusterstock and Green Sheet, which covers green energy and related environmental news. While the network had a false start with media site The Biz, which shut down in the last few days, we can probably expect Business Insider to expand into new verticals as the company continues to grow.
I love SAI, but I still think blogs raising money is absurd.
http://www.tech...-comes-my-rant/
We need the money for Segweys
by the way, I take back my “I love SAI” after reading the ridiculous “TechCrunch is full of shit” comment.
All of us here at http://www.rev2.org enjoy SAI, and congratulate them in their funding!
Ahaa…that’s why they are looking now for new writers…
Maybe they can use the money to increase their inventory of photos used to accompany stories. I get sick of seeing the same pictures on their site every day. Such is the word of Sanjay.
Sanjay, when you’re right, you’re right. We’ll work on that.
maybe its time to raise some money mike?
InsiderLocator.com – fund yourself
When will worthlessinsider.com get funding?
the only thing he would get funding for is the televised ending of his useless life. Now that’s something I’d pay for.
killyourselflocator.com — try a bottle of sleeping pills
I would like to see a comparison between all the great tech blogs that outline average # of stories per day, average amount of words per article, and % of content that is sourced/quoted.
I feel like SAI only writes a 1/3 of the content on their site.
Congratulations on the funding. And hats off to TC for doing a positive writeup on a (indirect/overlapping) competitor.
I have to disagree with Michael. I think it must be exciting to raise money as a blog.
Unlike a “regular” company/site, much of — if not all of — the value of the brand is derived from the intellectual capital of the writers and management. So raising money is definitely a nice tip of the hat to the group that got the blog off the ground.
Beyond this, I think blogs raising money can have a more linear impact on production, since operating costs for blogs are far more limited (there is no inventory!).
… or maybe this is just wishful thinking?
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Mike,
It’s useful to not raise money when you have plenty of money in the bank and can afford to hire writers, an ad sales team, and biz dev people. Taking money is useful if you have a plan to execute and want to get the next phase faster. Use the money to bring on a team that can help generate more cash flow … pretty straight forward.
Plus … we can’t all stay up working ridiculous hours for 3 years for paltry blogger pay
i guess. i just don’t think the venture mode works for blogging.
What about blog networks? Take for instance a bootstrapped company like Bloguin?
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