Matthew Garrahan of The Financial Times writes about Business Insider co-founder and editor in chief Henry Blodget in the wake of the sale of a majority stake in the business news website to Axel Springer for $343 million.
Garrahan writes, “The size of Mr Blodget’s stake is unclear yet as one of Business Insider’s three founders, he is due a hefty payday. He is not planning to go elsewhere to enjoy his spoils, though, having signed a long-term contract with Axel Springer, the company’s new owner. He will stay with the company ‘indefinitely’ as chief executive and editor.
“Business Insider has built a large audience of readers, launching sites in multiple international markets, diversifying into technology coverage and starting a paid-subscription service.
“As editor, Mr Blodget shaped its quick-fire, irreverent style. He started his working life as a journalist but it was another industry that propelled him to notoriety, rising to prominence as a securities analyst during the dotcom boom of the late-1990s and riding a wave of bull market enthusiasm for technology stocks.”
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