CONFIRMED: Business Insider Raised A Big, New Round!

Henry Blodget Julie Hansen NYSE

Photo: Business Insider

Last week, we stumbled upon some news about Business Insider while in San Francisco.We were told our very own startup was raising a big, new round of financing.

At first we were confused — we cover the startup beat, and we didn’t know about our own startup’s round? Embarrassing.

Then we realised, when raising a round of financing, you’re really not supposed to talk about it. So we went digging for a scoop, just like we would do for any other story.

Our CEO, Henry Blodget, simply smiled and said “no comment” when we inquired, but another source told us that Business Insider was raising “something closer to $5 million than $10 million.”

Blodget now confirms the financing. He says the round was led by Institutional Venture Partners.

“This round began early this summer, when we decided to explore the possibility of raising another ~$2 million. In the end, we were fortunate enough to have enough interest that we ended up raising ~$7 million.”

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