February 2, 2015 0 Comments
An exciting thing is happening in the online news industry. As more and more people today are reading and engaging in online news, venture capitalists have shown a renewed confidence in publishing and are now willing to back media organizations that have high quality, professionally produced content. Hot on the heels of Buzzfeed’s recent $50 million funding, Business Insider and Mashable, which were launched in 2007 and 2005 respectively, both announced that they have secured venture capital investments last week, building on a recent trend of large cash investments for new media companies. Business Insider, the New York-based business information website, has received $25 million from a group of investors led by Axel Springer Digital Ventures. Mashable, a news website focusing on technology and entertainment, has raised $17 million in a funding round led by Time Warner Investments, the investment arm of Time Warner Inc. Both companies said that they plan to use the money to invest in video, a potential source of revenue as people shift from television to the web. In terms of total funding, Business Insider has accummulated $55.6 million while Mashable has raised a total of $31 million.
You can read about the funding here.
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