OLD Media Moves

Business Insider seeking investment

January 19, 2014

Posted by Chris Roush

Business Insider is likely to be raising a new round from its existing investors, including Amazon CEO Jeff Bezos, reports Kara Swisher of Re/code.

Swisher writes, “As recently as December, Business Insider co-founder Kevin Ryan was telling potential acquirers in meetings that he would be willing to sell the site for $200 million.

“Since that price has apparently not been met, the group is raising a new round, with some of the same investors who have already put money into the company, including Institutional Venture Partners, RRE Ventures and Bezos, as well as an angel investment from well-known Marc Andreessen.

“Those investors put $5 million into the six-year-old, wide-ranging news website focused on business last year, and although coverage of that deal suggested Bezos accounted for most of the round, other investors also put in more.

“This time, he is likely to take a much bigger piece of the funding, via his personal investment vehicle, Bezos Expeditions, ‘because he is nuts for that site,’ said a person familiar with the funding plans.”

Read more here.

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