The economy continues to go to hell in a hand basket, but those websites reporting on the mess are doing just fine.
Business Insider, a three-year old business news website, announced on Thursday another $7 million in funding.
CEO and Editor-in-Chief Henry Blodget posted a brief article with the news on his site Thursday morning that said the site draws 12 million unique visitors a month. Tracking sites differ on the totals, but they all suggest the site's following has grown exponentially in 2011.
Blodget's post was vague about how Business Insider will utilize the new funds, only saying it will “do a ton more cool stuff” for the site.
Blodget also said that he had initially been looking for around $2 million — a 350 percent markup is not too shabby.
That may be why most of the post was devoted to thanking the site’s latest investor – Institutional Venture Partners – as well as its existing investors.
What does this actually mean? For now it seems unclear, but Blodget did say he’d hold off on any private jet purchases.
I guess that means to stay tuned, which is exactly what any content business wants.