Jeff Bezos And Others Give Business Insider $12 Million

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Business Insider announced on Wednesday that it has raised a new $12 million round of funding from existing investors including Amazon CEO Jeff Bezos. Others include IVP, RRE, and Gordon Crovitz.

According to CEO Henry Blodget, Business Insider will use the money to create "more great digital journalism (including long-form narratives and investigations)," more photography, more video, more data and graphics, more design and product development, more technology (including faster speed and better personalization), more subscription services (deep news and analysis for industry professionals) and a UK-based Europe edition.

"And, of course, we'll also be buying a foosball table to go with our ping-pong table. And maybe a jet. (Kidding)," he writes. "You'll see a lot of the site and service improvements over the course of this year and next."

The Wall Street Journal reports that the investment from Bezos is through his Bezos Expeditions firm, which has previously invested in Business Insider, as well as companies like Twitter, Uber, Airbnb, and Makerbot, to name a few.

Last year, of course, Bezos bought The Washington Post.

Business Insider has now raised a total of $30 million.

Image via Wikimedia Commons

Chris Crum
Chris Crum has been a part of the WebProNews team and the iEntry Network of B2B Publications since 2003. Follow Chris on Twitter, on StumbleUpon, on Pinterest and/or on Google: +Chris Crum.

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