Amazon CEO Invests $5M in Online News Site

by Christopher Freeburn | April 5, 2013 1:52 pm

Bezos Amazon CEO Invests $5M in Online News Site[1]Popular financial news website Business Insider is getting a big investment from one of the country’s leading corporate leaders[2].

Bezos Expeditions, an investment group headed by Amazon (NASDAQ:AMZN[3]) founder and CEO Jeff Bezos, provided $5 million in funding to the website during its latest financing round, CNET noted.

Future articles on Business Insider will carry a disclosure note regarding the investment.

Business Insider‘s co-founder Henry Blodget, who publicly supported Amazon as a financial analyst more than a decade ago when others were questioning the Internet retailers’ long-term viability, said he was “totally stoked” about the investment in a statement.

Other investors in Business Insider’s latest round of financing include RRE Ventures and Institution Venture Partners.

Blodget indicated that the new financing would be used to build the website’s operational infrastructure.

Last year, Bezos and his wife donated $2.5 million to a pro-gay marriage campaign in Washington state[4].

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/10/Bezos.jpg
  2. getting a big investment from one of the country’s leading corporate leaders: http://news.cnet.com/8301-1023_3-57578158-93/amazons-bezos-leads-$5m-investment-in-business-insider/
  3. AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN
  4. to a pro-gay marriage campaign in Washington state: http://investorplace.com/2012/07/amazons-bezos-to-donate-2-5m-to-gay-marriage-campaign/

Source URL: http://investorplace.com/2013/04/amazon-ceo-invests-5m-in-online-news-site/
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