A news blog website (started in 2005 as political liberal news and blogs) started by Ariana Huffington is valued $315 million? What is happening in the tech world? A news website which had estimated $60 million of revenue last year is being paid 5 times. So what does this mean to the tech entrepreneurs ; the business does not have to be profitable in order to profit big time from it. The site huffingtonpost.com supposedly had 25 million unique visits in December. This proves that advertising model is working as strong as it used to few years ago. If you are interested to know who is benefiting from this cool $315M (according to NYTimes)
- Ariana Huffington and Ken Lerer founded the site in 2005 with $2M seed capital
- Greycroft Partners
- Softbank Capital
- Oak Investment Partners
- Robert W. Pittman, the former AOL executive
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