Business Insider Inc., the news site co-founded by former Internet analyst Henry Blodget, raised $5 million in venture capital from investors led by Amazon.com Inc. (AMZN) Chief Executive Officer Jeff Bezos.
“Jeff’s leadership, vision and philosophy at Amazon have been an inspiration to a whole generation of startups and entrepreneurs, including me,” Blodget said in an interview. “It is a privilege and pleasure to have him invest in the company.” The New York-based company had about $10 million in sales last year and a net loss of $3 million, according to a person with direct knowledge of its finances. Business Insider has about 100 employees and is expected to bring in more than $15 million in revenue this year, though it may not reach profitability, said the person, who asked not to be named because the information is confidential.
It’s bizarre to read about your (future, I start Memorial Day week) employer raising millions of dollars in venture capital. I’m very excited to see the changes that will be happening at Business Insider while I’m there this summer.