The Business Insider is a blog that recently relaunched under one brand. The Business Insider was founded by Henry Blodget and this is the third round of funding. Although Blodget never announced himself how much was raised, it is rumored to be around $5 million.
The participants in this round of funding is believed to be Allen & Co., Marc Andreessen, Jim Friedlich, and Matt Luckett. Previous investors may have also participated. The last round of funding was around July 2008.
It is not known what The Business Insider plans to do with this round of funding, but it is expected that they will be revamping their entertainment section.
Amit Chowdhry | July 17, 2008 | 854 views | Comments Categorized under AlleyInsider
AlleyInsider is a one year old media and technology news blog that was started by Kevin Ryan, Dwight Merriman, and Henry Blodget. The company has just raised funding and is now valuated at $6 million in post-money valuation. Allen Morgan, former partner at Mayfield Fund was one of the investors. AlleyInsider started looking for funding this past April in the range of $750K-$2 million.
WIth this round of funding, AlleyInsider plans on maintaining their current business and hiring additional talent. As a matter of fact, Henry Blodget (AlleyInsider) wrote an article yesterday titled, Hey, Fired WSJ Editors, We Have Awesome Jobs For Two of You! on the same day that Peter Kafka (AlleyInsider) wrote an article titled WSJ Firing 50 Editors, Hiring 95 Reporters.
Good luck to AlleyInsider–It’s another victory for technology and social media blogs.
