Posted on 08/07/2006 7:16:27 AM PDT by abb
August 7, 2006 -- A group led by venture capital firm Softbank is investing $5 million in the Huffington Post, an online news site and political blog owned by the pundit Arianna Huffington, The Post has learned.
The investment comes a little over a year after the launch of the Huffington Post - which then was billed as a celebrity-filled blog but has since evolved in to its own news brand.
An announcement of the investment could come as soon as today.
In addition to Softbank, venture capitalist Alan Patricof is also investing in the site, as well as some of the initial investors. Huffington and former Time Warner executive Ken Lerer founded the site.
The investment comes amid a surge in interest in content on the Internet among big media firms. Venture capital firms, meanwhile, have typically focused on technology companies but now are increasingly looking at investing in Internet content.
(Excerpt) Read more at nypost.com ...
Huff has a blog?
Can Soft bank hear the flushing sound?
Petricof used the family money to make money. He used to own (and perhaps still does own) the Village Voice. In the past he has served as a big bug on the Clinton/Gore team. It is likely he will be one of the major financial supporters for Hillary Clinton.
"Venture capital firms ...are increasingly looking at investing in Internet content."
A fool and his money. Send me some!
I am sure it will do great like Salon and Slate. =o)
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