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Huffington Post raises $25 million
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Political news site "The Huffington Post" announced that it has raised $25 million from Oak Investment Partners, a California-based company. The HuffPo, as it is commonly called, also declared the appointment of Fred Harman, chief executive of Oak, to its board. Oak owns about $8.4 billion and invests on sectors like new media, clean energy and enterprise and software services. According to a press release of HuffPo, the funding will help to finance the expansion of the website into local news across the USA and investigative journalism. The new financing "will allow us to accelerate our growth, with more verticals, more video, more citizen journalism initiatives, more cities for our local editions and a fund for investigative journalism," said Arianna Huffington. There is also a "world news" page in work, betrayed a source close to the company.
The Huffington Post, which calls itself "the internet newspaper", is one of the most linked-to blogs on the internet, and attracts about 2.5 million regular bloggers. Arianna Huffington who spoke at DLD07, is co-founder of HuffPo and one of the most influential figures on the American political scene, and a close friend of Barack Obama.
0 comments· December 03, 2008 · 04:38 PM· Permalink· Trackback-URL
Arianna Huffington· DLD· DLD Speaker· HuffPo· Oak Investment Partners· The Huffington Post
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