11:15 am Jul. 30, 2012
The Lineup collects the media stories, big and small, that are on our radar each day.
What exactly is the end-game for Henry Blodget's Business Insider? More venture capital? A clear path to profitability? A sale?
It's all still up in the air, Blodget and Business Insider president Julie Hansen tell The Wall Street Journal's Keach Hagey, who profiled the influential news aggregator following its recent fifth anniversary.
Revenue this year is expected to be about $12 million, according to a person with knowledge of its finances. The company doesn't disclose its revenue figures—although Mr. Blodget has said it generated $4.8 million in revenue in 2010. The company hasn't yet decided whether it will aim to raise another round of financing.
"It will be a question of how aggressive we want to be in terms of growth," Mr. Blodget said. "I think there's a huge opportunity, but you are always weighing whether it is time to turn permanently profitable and drive profits out of the business, or continue to raise capital."
As for whether Business Insider's future may look something like The Huffington Post's:
Mr. Blodget and Ms. Hansen say they are building a business for the long term, although they don't close the door to the notion of selling.
"We always ran this with the idea that we will build a great stand-alone property," Mr. Blodget said. "If it makes sense to combine that with someone else, great."
[Disclosure: I covered media for Business Insider from April to November 2010.]
In other news...
What it means for Michael Bloomberg to lose his loyal press secretary of the past six years. [The New York Times]
Will the Olypmics help "Today" reassert its ratings dominance? [The New York Times]
The Googlification of Yahoo. [AllThingsD/Boomtown]
How Time Inc.'s Laura Lang is rethinking magazines for a digital age. [The New York Times]
Rafat Ali has launched "the Politico of travel websites." [paidContent]
WikiLeaks punked Bill Keller. [Poynter]
Businessweek was in danger of closing before Bloomberg bought it. [Talking Biz News]
Another buzzy Newsweek cover. [Adweek]
Layoffs at Spin, including its editor-in-chief. Will the print edition survive? [NYT/Media Decoder]
From our inbox...
The Huffington Post has teamed up with NBC News, Starbucks, Microsoft, LinkedIn and others to "shine a spotlight on job creation during the RNC and DNC presidential conventions."
More from the press release:
A lunch and job-creation exhibition at both the RNC and DNC -- Opportunity: What Is Working – A Bipartisan Search for Solutions to the Jobs Crisis
1) An exhibition showcasing social entrepreneurs, small businesses, and innovative ideas that provide skills and training to create jobs.
2) Lunch panel discussion moderated by Tom Brokaw focusing on concrete job-creation initiatives, as well as big ideas for future job growth. Panelists will include Ohio Governor John Kasich, Rockefeller Foundation president Judith Rodin, Aspen Institute President and CEO Walter Isaacson, Startup America CEO Scott Case, LinkedIn Co-Founder and VP of Product Management Allen Blue, Microsoft General Counsel Brad Smith, Year Up CEO Gerald Chertavian, Venture for America CEO Andrew Yang, Valencia College President Sanford Shugart, Civic Ventures CEO Marc Freedman, Purpose CEO Jeremy Heimans and Arianna Huffington.
Tampa – Wednesday, August 29th; lunch panel 12:30–2:30pm, exhibition 2:30–5:30pm
Charlotte – Wednesday, September 5th; lunch panel 12:30–2:30pm, exhibition 2:30–5:30pm
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