Axel Springer Digital Ventures is lead investor in a 25 million USD investment round of Business Insider (businessinsider.com), a leading international business news site headquartered in New York. Business Insider is a renowned and fast-growing source of news for business leaders around the globe. Andreas Wiele, President Marketing and Classified Ad Models at Axel Springer SE, will become a member of the Board of Directors of Business Insider. With the investment Axel Springer will hold a minority stake in Business Insider.
Business Insider, the largest business news site in the US, covers news with a unique combination of reporting, video, photography, and analysis. The company pioneered a digital-native approach to business news that is social and mobile at its core and which is aimed at how today’s existing and up-and-coming business leaders consume and share information. It has local versions in seven countries and 230 employees worldwide.
“We are excited to become an investor in the world's fastest-growing business news website and want to support Business Insider’s future development. With this investment we are strengthening our footprint in the English speaking digital media market,” explains Andreas Wiele.
“The investment announced today lets us further fast-track our growth in the US and abroad,” says Henry Blodget, co-founder and CEO of Business Insider. “Axel Springer is the ideal partner for us in this endeavor as they share our vision about the promising future for new media and the ability of digital-native news sources to deeply engage audiences in new and powerful ways.”
Business Insider was founded in 2007 and reaches 70 million unique visitors globally per month (Google Analytics). It has 35 million unique monthly visitors (comScore, December 2014) in the US alone. In 2014, Business Insider UK was launched as the company’s seventh international version. Business Insider also offers a subscription research service, Business Insider Intelligence, that provides in-depth insight, data and analysis of the digital landscape, including e-commerce, mobile and social. In addition, Business Insider each year hosts one of the industry’s leading and most influential technology conferences, IGNITION.
Axel Springer wants to become the leading digital publisher. Headquartered in Berlin, the company is active in more than 40 countries with subsidiaries, joint ventures, and licenses. Axel Springer SE is divided into three operating segments: Paid Models, Marketing Models and Classified Ad Models. In 2013 it achieved an EBITDA of EUR 454.3 million. In the first nine months of 2014, more than half of Group revenues were generated by digital activities, their share of EBITDA amounted to nearly 70 percent of Group EBITDA. In the United States Axel Springer is the second largest stakeholder of the online news and culture magazine Ozy.com and holds minority stakes in the social video news publisher NowThisMedia (nowthisnews.com) as well as in the community marketplace for accommodations Airbnb.com.