Amazon.com’s Jeff Bezos has invested in Business Insider, according to a memo from Henry Blodget, one of the founder’s of the website, posted on its website Friday morning.
The memo states:
Basically, Jeff Bezos is making a significant investment in the company. Our existing investors are also chipping in some more. In total, we’re raising $5 million.
This capital will allow us to continue to invest aggressively in many areas of the business, including editorial, tech/product, sales and marketing, subscriptions, and events. As we mentioned last night, it will also allow us to expand our office.
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. (He sees some parallels with Amazon). A few months later, he expressed an interest in investing. My reaction was basically “Hell, yeah!”
Jeff’s vision, leadership, and philosophy at Amazon have inspired a whole generation of startups and entrepreneurs, including me. Amazon has always focused on customers first, knowing that, if they do a great job at that, everything else will take care of itself. This obsession with customers and long-term focus are the reasons that Amazon has been so successful. And this philosophy is something that we very much want to emulate. (We have two sets of customers, obviously–readers and sponsors. And we’re obsessed with both).
Read more here.
