Report: Business Insider is raising a new round after turning down AOL offer
Business Insider, a popular news blog, reportedly turned down a $100 million offer from AOL last year. It is believed that the company is holding out for a $200 million offer. Now Business Insider is raising a new round of funding from existing investors, including Amazon.com CEO Jeff Bezos, Institutional Venture Partners, RRE Ventures, and Marc Andreessen.
Based on Business Insider’s last round of funding, the company hit a $60 million valuation. Business Insider has raised a total of $18 million. The new round of funding should put Business Insider well ahead of the $60 million figure. It is believed that Business Insider hit $10 million in 2012 revenues and nearly $20 million in 2013 revenues. Business Insider is hitting around 20 million monthly unique visitors.
Other large media companies have seen a bit of financial activity recently. Mashable is a profitable tech blog that recently raised $13 million in funding with a valuation of over $50 million. Forbes Media hit around $145 million in 2013 revenues and is looking for a $400 million acquisition. This past summer, Jeff Bezos acquired the Washington Post for $250 million.