Amazon chief Jeff Bezos helps invest US$12m in Business Insider

6 Mar 2014

Jeff Bezos, CEO of Amazon

Amazon CEO Jeff Bezos has taken part in a US$12m funding round of online news site Business Insider, valuing the company at around US$100m.

The site plans to use the investment to expand into the UK, as well as hire more journalists and photographers, according to The Wall Street Journal.

According to ComScore, Business Insider is the fourth largest business news site in the US, attracting 25.4m unique users on desktop and mobile devices.

The investment brings to US$30m the amount Business Insider has raised in the past seven years.

The latest investment – at about five times the site’s 2013 revenue, according to Reuters – values Business Insider at around US$100m.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years