Longtime Kleiner Perkins partner Ellen Pao may have chosen an odd way to reveal to the world that she’s no longer working at the firm, taking to the social network Quora to announce the development. But from a financial, legal, and public relations’ standpoint, Kleiner Perkins may wind up the big loser in this latest chapter of its ongoing saga with Pao.
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Profit margins for television are shrinking as traditional players are losing control of their content. Print? Fuggedaboutit. So where are VCs bullish in the media biz? Well, online of course. At Business Insider’s New York Ignition event, groups of VC pros offered varying viewpoints on how to capitalize the best on content. Make it cheap, [...]
Internet entrepreneur Kevin Ryan is killing it — particularly when it comes to fundraising. Ryan is the founder and CEO of Gilt Groupe, a popular shopping service that was founded in 2007 and has raised a stunning $236 million, including from Goldman Sachs, General Atlantic, and Matrix Partners since its 2007 founding — at what [...]
Today, Henry Blodget announced that Business Insider raised $7 million in funding.
Institutional Venture Partners, a new investor, led the round. Existing investors, RRE Ventures, Allen & Co., Marc Andreessen, Gordon Crovitz and Ken Lerer also contributed. Including the $7 million, BI has raised about $14 million in funding, according to TechCrunch.
Business Insider began fundraising this past summer when it hoped to raise an additional $2 million, Blodget writes.”In the end, we were fortunate enough to have enough interest that we ended up raising ~$7 million,” he says. “For a company that has operated on a shoe-string for the last four years, this injection has made our bank account look positively massive.”
Kleiner Perkins has never fallen from its perch as a so-called top tier firm. Few venture firms can fundraise as quickly, collect so much, or be as selective about the investors for which they’ll work. But there’s no question that Kleiner was losing its footing, and that it’s about to be saved by Zynga and [...]
Earlier today, Business Insider’s Henry Blodget wrote a sensational piece titled, “ZipCar’s IPO Underwriters Just Screwed the Company to the Tune of $50 Million.” In it, Blodget pointed to ZipCar’s opening price of $30 – which is $12 more than the institutional clients of Goldman Sachs and JPMorgan (and other insiders) paid. He accused the banks of [...]
I just got back from the Ignition conference and I must say I was quite impressed.
This is the first conference for the Business Insider and Henry Blodget et al. showed they know how to give these sorts of media forums with style. There was a lot of food, plenty of room for laptops and gizmos, and all the staff was nice. My only critique is that the segments–while delightfully short and fast paced–didn’t allow for any questions from the audience or journalists.
Unfortunately, I didn’t get to hear all of the segments. And I missed Steve Case, the former CEO of AOL, who spoke this morning.
Earlier this week, New York-based recruiter Paul Daversa wrote a widely read piece for Business Insider entitled: “IT’S TRUE: Top Tech Talent Is Now Leaving Silicon Valley For New York City.” Daversa wrote that “for the first time in my 20 years of search, the deal flow and investment lines have begun to blur as NY has become a hot-bed for building great tech companies and leadership talent is migrating to New York.”
Daversa added: “More than any time in recent history I am seeing a migration of talented engineering and operating executives leaving the Bay area and other parts of the country to lead NY companies.”
Now, Jeff Markowitz, the managing partner for Heidrick & Struggle’s venture capital practice, is calling bullsh*t. offers a different opinion.
Business Insider, a New York-based business media website, has raised around $3 million in new VC funding led by RRE Ventures. Existing backers include Allen & Co., Kohlberg Ventures, Pilot Group, Marc Andreessen, Gordon Crovitz and Ken Lerer. The company previously raised $2.7 million. Read more…