Friday, April 5, 2013

Amazon's Jeff Bezos invests unspecified amount in Business Insider as site seeks to raise $5 million

Henry Blodget, the founder of Business Insider, is crowing this morning about landing a big fish in his efforts to raise $5 million in capital for his website – Amazon.com's Jeff Bezos is chipping in.

"Jeff's investment grew out of a dinner he and I had about a year ago. We talked about the business, and he was excited about it," writes Blodget in a publicly posted memo this morning. (He sees some parallels with Amazon). A few months later, he expressed an interest in investing. My reaction was basically 'Hell, yeah!'"

The Twitter link provided by Blodget was typical Business Insider: three or four clicks were necessary to read the story, and none proved direct, in any case.

According to a Bloomberg post on the investment, Business Insider had a net loss last year of $3 million on $10 million in sales, though the source was not identified.

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