February 2, 2015 Comments Off on New investments in new media
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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