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Business Insider Manages to Raise $7 Million in Funding

Online news site and digital media startup Business Insider has announced that its new round of funding campaign brought the company a hefty sum of $7 million.

According to a revelation made by the founder of the site, Henry Blodget, this recent fund raising campaign was led by the company’s new investor IVP (Institutional Venture Partners).

Previously, the company managed to raise funding from the likes of RRE Ventures, Marc Andreessen, Allen & Co., Ken Lerer, Gordon Crovitz etc., amongst many more.

Blodget also stated that the company was initially planning to raise somewhere around $ 2 million, but at the same time kept on eying on a bigger amount too. He did not forget to brag how the site was attracting around 150,000 visitors per day.

“They (IPV) are one of the premiere venture firms in the country, with a spectacular track record, and we're excited to be included in their portfolio,” Blodget (opens in new tab) wrote, mentioning about the assistance his company managed to get from IPV.

“We're grateful to the IVP team for their interest and confidence in us. We're also thrilled to have IVP's Somesh Dash and Todd Chaffee as advisors,” he added.

Ravi Mandalia

Ravi Mandalla was ITProPortal's Sub Editor (and a contributing writer) for two years from 2011. Based in Ahmedabad, India, Ravi is now the owner and founder of Parity Media Pvt. Ltd., a news and media company, which specializes in online publishing, technology news and analysis, reviews, web site traffic growth, web site UI. Ravi lists his specialist subjects as: Enterprise, IT, Technology, Gadgets, Business, High Net Worth Individuals, Online Publishing, Advertising, Marketing, Social Media, News, Reviews, Audio, Video, and Multi-Media. He has also previously worked as Dy. Manager - IT Security at (n)Code Solutions.