Amazon founder invests in Business Insider
Jeff Bezos is personally leading a $5 million investment round in the business news site.
Well, Bezos and Blodget (pictured) are back, though on a much smaller scale. The Amazon CEO is leading a round of $5 million in venture funding for Business Insider, Blodget's business news site. Bezos is investing personally, and not using Amazon cash, through his investment arm Bezos Expeditions, Bloomberg reported.
Other investors in the round include RRE Ventures and Institutional Venture Partners.
There appear to be no issues with Bezos investing in a site that gives considerable coverage to Amazon. Blodget told Bloomberg that the site would disclose the investment whenever it mentions Amazon.
Observers noted the long connection between Blodget and Bezos. "The only other thing to spell out here is that this deal reminds you that life is long, and relationships last," wrote Peter Kafka at AllThingsD.
Business Insider, which has 100 employees, is not profitable, according to reports. It had $10 million in sales last year and is expecting $15 million this year, Bloomberg reports. It lost $3 million last year.
- Millionaires are raking in unemployment benefits
Copyright © 2014 Microsoft. All rights reserved.
[BRIEFING.COM] The stock market finished an upbeat week on a mixed note. The S&P 500 shed less than a point, ending the week higher by 1.3%, while the Dow Jones Industrial Average (+0.1%) cemented a 1.7% advance for the week. High-beta names underperformed, which weighed on the Nasdaq Composite (-0.3%) and the Russell 2000 (-1.3%).
Equity indices displayed strength in the early going with the S&P 500 tagging the 2,019 level during the opening 30 minutes of the action. However, ... More
More Market News
As geopolitical tensions threaten to spin out of control, investors are wondering how best to position their portfolios for the global turmoil.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'