Business Insider raising $10 million
Business Insider is in the process of a venture financing round of around $10 million, Katie Roof of Fox Business has confirmed.
Roof writes, “This would be the sixth round for business blog, and would bring the total funding to under $30 million, dating back to a seed round in 2008.
“FOX Business previously reported that Business Insider had acquisition talks with AOL in late 2013. Discussions were in the $100 million to $150 million range, but did not pan out.
“It was reported that existing investors like Amazon’s Jeff Bezos, Institutional Venture Partners and RRE Ventures would be participating. Other prior investors include Marc Andreessen, Allen & Company, Kohlberg Ventures, Pilot Group, Ken Lerer and Gordon Crovitz.
“Business Insider is using the capital to grow the business, hoping for a better valuation when they ultimately decide to sell. A source says it is still unclear what price they will be looking for, but that they would possibly sell the company for $250 million.”
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