Mashable Raises $17 Million; Business Insider $25 Million
Money makes the media companies go 'round
Mashable and Business Insider have both raised good chunks of funding. Mashable raised $17 million in Series B funding, led by Time Warner Investments. BI raised $25 million, led by Axel Springer.
It’s not surprising that both companies have enjoyed large funding rounds. Mashable has increased its revenue by 45 percent over the past year. Meanwhile, a “person familiar with BI” told The Wall Street Journal that the site turned a profit over the second half of last year, and revenue has grown “steadily.”
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