Business Insider generated revenue of about $10.2 million based on average exchange rates and a net loss of about $1.2 million during the last two months of 2015, Jeremy Barr of Ad Age reports.
Barr writes, “According to the report, had B.I. been part of Axel Springer since the beginning of 2015, it would have lost the company €10.8 million (about $12.0 million based on average exchange rates in 2015) in consolidated net income on consolidated revenue of €38.5 million (about $42.8 million).
“An accompanying presentation said B.I.’s revenue increased 41% in 2015.
“Germany’s Axel Springer, which has invested in several U.S.-based digital media companies, including NowThis and Thrillist Media Group, sees B.I. as a great growth opportunity.
“‘The medium-term planning of Business Insider is based on the assumption that the revenues will grow significantly,’ Axel Springer said in the report. ‘This growth shall predominantly be triggered by the further development of the Business Insider brand portfolio (e.g. Tech Insider, Insider), the extension of the fee-based market research offering (‘BI Intelligence’) and the expansion into new international markets.'”
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