OLD Media Moves

Business Insider turned down $100M-plus offer

January 3, 2014

Posted by Chris Roush

Business Insider, the website operated by Henry Blodget, recently turned down an offer to be sold for more than $100 million, reports Katie Roof of Fox Business Network.

Roof writes, “A person with direct knowledge of the situation revealed that executives at the website rejected the deal proposed by another digital media publication in the second half of 2013.

“The name of the potential buyer could not be determined, and it’s unclear at what price Business Insider chief executive Henry Blodget and his partners would be willing to sell — or if there are buyers who would pay significantly for a website that media executives say may only be eking out a small profit.

“In an email, Blodget would neither confirm nor deny that such an offer was made, though he categorically denied that the firm is actively seeking buyers. People with direct knowledge of the company add, however, that management has considered various offers, and will continue to do so in the future.

“Business Insider, formerly Silicon Alley Insider, was founded in 2007 and is known for its candid business and technology blogging. According to Alexa data, it achieves more global traffic than traditional business media companies like the Financial Times and Bloomberg, but less than The Wall Street Journal.”

Read more here.

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