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Sold for $442m, how does Business Insider rank in the content boom?
VC-backed media outlet Business Insider has just been sold to German publisher Axel Springer (fresh from its failed bid for the Financial Times) in a deal valuing the business at $442 million.
Springer - which held a 9% stake in the business via Axel Springer Digital Ventures - was one of 24 investors to back the content startup, according to CrunchBase.
The others included the likes of RRE Ventures, Marc Andressen, Kohlberg Ventures , International Venture Partners , and notably Amazon CEO Jeff Bezos, who is reportedly retaining his stake.
Business Insider managed to secure a healthly valuation but its not the largest in the recent content boom. A recent report by CB Insights ranked it ninth in a list of the largest valuations in the news and media space today.
Many of these companies can be classed a startups, with venture capital firms and strategic investors funneling a reported $800 million into digital new and media start-ups over the past year.
Vox Media and BuzzFeed are among those to reach unicorn status, putting them ahead of such old guard media giants as Forbes and the Washington Post. Here is CB Insights' media valuation ranking in full:
The Economist ($1.46b)
Financial Times ($1.31b)
Merger Market ($624m)
Business Insider ($442m)
Washington Post ($250m)
The Boston Globe ($70m)