Report: Business Insider is raising a new round after turning down AOL offer

Posted Jan 20, 2014

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 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.┬áBusiness 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.

[Source: Recode]