The news company is dealing with a resurrection–or at least enough people who have deep pockets believe thus.
If the purchase goes through in the cost that is reported, it might worth Business Insider, established in 2009. That is above Vox, but below Buzzfeed Vice, as well as the Financial Times. Berlin-based Axel Springer almost purchased the latter, also, but in July was beat out by the Nikkei in Japan.
Business Insider makes money via a variety of events, sponsored content, and subscriptions to analyze. The firm’s financials stay private, but it apparently created about $20 million in 2013 in sales.
Some might consider that purchases and these financing rounds demonstrate renewed beliefs among investors in media.
But other internet-based publications have met sharp, unceremonious ends after raising venture capital. Two months before that, a favorite website in the technology sector, Gigaom, shut down unexpectedly after neglecting to repay its creditors.